Nokia’s Here Maps will likely be sold to Audi, BMW, and Mercedes
See the original posting on The Verge
Nokia is selling its maps business to three of the world’s top automakers. The Wall Street Journal reports that after several weeks of negotiations, Audi, BMW, and Daimler AG the parent company of Mercedes have “agreed in principle” to purchase the entirety of Nokia’s Here Maps. The exact purchase price isn’t yet known, but is reported to be “slightly more than” 2.5 billion (or $2.71 billion USD). Uber was also at one point said to be interested in Here Maps, but apparently bowed out of the bidding process weeks ago.
According to the Journal, the trio of carmakers won’t be keeping Here Maps to themselves. Assuming the sale goes as planned, Audi, BMW, and Daimler plan to invite other automotive companies to buy a stake in the…