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Audi, BMW and Daimler purchased Here Maps, the navigation division from Nokia

Nokia‘s navigation division was purchased by the equal partnership between Audi, BMW and Daimler. The transaction will be validated by the competent authorities in the first part of next year.

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Audi, BMW and Daimler have formed a partnership to purchase the Finnish navigation division at Nokia, confirming previous information announcing this transaction. The three German premium manufacturers will be equal partners in the new company that will focus on real-time updated maps and location-based services. The transaction price is rumored to three billion, below the amount required by Finland’s Nokia, but the final value of the contract was not disclosed. In any case, the transaction will be completed in early 2016 after the competent authorities will approve all purchase details. Three German partners have pledged to let independent management running the company and not interfere in its business model.

 

Because the new owners of Here Maps will not change direction and business model of the former divisions of Nokia navigation services provided by it will not be affected by the acquisition. Here the aim of providing a platform will remain Maps navigation for all consumers, while the partnership between the three German premium manufacturers is to ensure the necessary maps autonomous car that they want to market them. By acquiring a company specializing in mapping and real-time maps, the three German manufacturers will get a cost reduction and navigation systems segment will benefit from updated and detailed maps at a cost lower.

The representatives of the car manufacturers involved in this transaction are excited about the acquisition, motivating the purchase of the Nokia maps and navigation of the benefits brought by these frequent updates. Dieter Zetsche, CEO of Daimler AG, explains the acquisition of his view: High precision digital maps are an essential component of future mobility. With the acquisition of HERE Maps common, we want to ensure the independence of the central service for all carmakers, suppliers and customers in other industries.

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