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Audi Ag, BMW Group and Daimler Ag agree with Nokia Corporation on...
2015-08-03 09:24:25| Wireless - Topix.net
The acquisition is intended to secure the long term availability of HERE's products and services as an open, independent and value creating platform for cloud-based maps and other mobility services accessible to all customers from the automotive industry and other sectors. The three partners will each hold an equal stake in HERE; none of them seeks to acquire a majority interest.
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Nokia sells Here to carmakers for EUR 2.8 bln
2015-08-03 08:26:00| Telecompaper Headlines
(Telecompaper) Nokia has reached an agreement to sell its digital mapping and location services business Here to a consortium of carmarkers for an enterprise value of EUR 2.8 billion. Audi, BMW and Daimler will pay a net price of just over EUR 2.5 billion, after compensation for certain liabilities at Here, Nokia said. The sale is expected to close in the first quarter of 2016. Nokia first announced plans to sell Here in April, when it agreed the merger with Alcatel-Lucent. After selling Here and its mobile phone business last year, Nokia will focus exclusively on the network equipment market, as well as its licensing business. Here already serves much of the world's automakers with mapping services, as well as supplying many mobile phone operating systems, including Windows, Android and iOS. The company generated an adjusted operating profit of EUR 46 million on revenues of EUR 552 million in the first half of this year. It recorded an operating loss of EUR 1.241 billion in the period, after an impairment of EUR 1.209 billion to write off goodwill.
Nokia sells Here to German car makers for 2.8bn
2015-08-03 02:00:00| Total Telecom industry news
Audi, BMW, Daimler say vendor's mapping technology will accelerate development of autonomous vehicles.
German auto makers agree deal to buy Nokia HERE: sources
2015-08-02 23:28:37| Telecom - Topix.net
Nokia is shedding the maps business as it focuses on integrating its 15.6 billion-euro purchase of Alcatel Lucent ( The Finnish company announced a strategic review of its navigation business in April, setting up an auction process that pitted Germany's premium automakers against Internet rivals from the United States and China, who have now pulled back.
Nokia, Alcatel-Lucent post strong results as merger approaches
2015-07-30 12:16:37| Telecom - Topix.net
Nokia's 15.6 billion euro acquisition of Alcatel-Lucent announced in mid-April aims to position the company to better compete with market leader Ericsson and low-cost Chinese powerhouse Huawei [HWT.UL], by forging a strong number two in mobile with a more complete product line. But with competition in the sector remaining intense and demand from telecom operators soft, some investors still have concerns about the marriage.
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