Nokia HERE close to being sold for €2.5 Billion to german carmakers

Nokia logoNokia continues to negotiate the sale of its maps unit to third parties, but now reports claim the Finnish company is closer than ever to reach its goal.

Since Nokia announced that its HERE maps business was up for sale, many companies and consortium groups started to bid on it. However, none has been able to meet Nokia's asking price, which some sources claim to be $4 billion (€3.63 billion).

After numerous bidding sessions, some of the companies interested in acquiring Nokia's maps unit dropped out of the race due to the high asking price, while others made other acquisitions.

Uber announced recently it has bought some of Microsoft's Bing assets and absorbed 100 engineers that will work for its newly acquired maps business.

Other companies gave up on bidding because they felt Nokia already has a favorite buyer in the form of a German consortium of car makers, which contains companies like BMW, Daimler AG and Audi AG.

Apparently, there rumors were completely accurate as Bloomberg now reports that sources familiar with the negotiations claim that Nokia is very close to announcing the sale of its maps business.

The German carmakers would be the buyer of HERE for around $2.7 billion (€2.5 billion), which is far from Nokia's asking price from a few months ago, if rumors were true.

According to the same sources, an agreement could be reached as early as next week, so an official announcement should drop around July 31.

Nokia HERE close to being sold for €2.5 Billion to german carmakers

Still, negotiations could fall apart just as easy as the German consortium hammers out the details, including intellectual property rights, sources claim.

Daimler AG, owner of Mercedes-Benz, BMW and Audi are fierce competitors on the luxury car market, which makes this alliance for the acquisition of Nokia HERE maps business quite unique.

This means that the German carmakers are really interested in getting Nokia's maps unit that they are willing to drop any rivalries.

Source: Softpedia

Tags: Nokia

Add comment

Your name:
Sign in with:
Your comment:

Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party

Last news

Is this an error or it is really happening?
The proposed topic and architecture was originally presented to the JPEG Committee in 2016
The rest of the specs as seen on Geekbench include 8GB of RAM
Samsung is likely to be made official in February at next year's Mobile World Congress in Barcelona
Lumia 950 XL shown running Windows 10 on ARM
The company has studied such an option in the past
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /

News Archive



Do you use microSD card with your phone?
or leave your own version in comments (10)