NAVTEQ Acquired by Nokia
In business news, Nokia announced its acquisition of NAVTEQ. The acquisition has cost Nokia $78 in cash for each share of NAVTEQ including outstanding options for an aggregate purchase price of approximately $8.1 billion (EUR 5.7 billion), or approximately $7.7 billion (EUR 5.4 billion) net of NAVTEQ existing cash balance.
NAVTEQ, a provider of Geographic Information Systems (GIS) data, is growing fast with the boom in the navigation department with location-based services expanding rapidly into mobile communications devices.
NAVTEQ will continue to provide the most advanced and flexible map data platform to navigation industry players. With NAVTEQ, Nokia will further strengthen its location based services offering and bring to market the most innovative, context aware Nokia Internet services with accelerated time to market.
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Mobilewhack: Nokia Archives
via: nokia
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