Nokia’s HERE maps sold for $3 billion to Audi, BMW and Mercedes
After weeks of rumors surrounding the sale of Nokia’s HERE maps, the company has confirmed today that it’s sold the product to a group of car manufacturers for $3 billion (€2.8 billion).
AUDI AG, BMW Group and Daimler AG formed a consortium to purchase the mapping unit from Nokia.
The company said that HERE’s focus is on “developing precise and accurate mapping as well as services that will enable an entirely new class of driver experiences, including highly automated driving.”
Rajeev Suri, President and Chief Executive Officer of Nokia, said that “with this step we complete the latest stage of Nokia’s transformation” which clears the way for the company’s planned merger with Alcatel-Lucent.
Once the mapping unit is sold, Nokia will consist of two businesses: Nokia Networks and Nokia Technologies. The first will continue to provide broadband services and infrastructure while the second will work on “advanced technology development and licensing.”
The purchase is a move from the car makers toward building their own platform for self-driving cars, which requires precision mapping and GPS technology.
The Alcatel-Lucent merger is expected to close in the first half of 2016.