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Audi, BMW, Daimler buying Nokia's HERE map business in deal valued at 2.8 billion euros

2015-08-06 06:00:16| Wireless - Topix.net

A consortium of German automakers Audi, BMW and Daimler announced Monday it is buying Nokia Corp.'s HERE map business in a deal that values the unit at 2.8 billion euros and secures their access to technology that could eventually be used for driverless cars. Nokia, based in Finland, has refocused its business on producing equipment for wireless networks after selling its mobile phone handset operation to Microsoft Corp. The company said it expects to receive slightly over 2.5 billion euros from the sale, with the purchasers being compensated for HERE liabilities totalling nearly 300 million euros.

Tags: map business deal buying

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