Car consortium buys Nokia's HERE mapping business for US $3.01 billion

A consortium made up of Audi, BMW and Daimler has agreed to purchase Nokia's mapping business for an approximate US $3.07 billion. This puts to rest a long standing bid to sell the business which Nokia has developed since it acquired NAVTEQ in 2007.

HERE Maps is ideal for motoring applications and it looks like while the big 3 carmakers have made the investment, the consortium of carmakers that can make use of the technology can only grow. Part of Here Maps' strength lies in consolidating real-time traffic information from vehicles. Uber was reportedly in talks with Nokia for the mapping business and had allegedly offered up to US $3 billion on the table.

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Three German carmakers reportedly in talks to buy Nokia’s Here mapping service

Audi, BMW, and Daimler are reportedly in talks with Nokia to buy the company’s mapping service. The deal is estimated to be worth over US$2.71 billion. A source told The Wall Street Journal that Nokia has been talking exclusively with these three car manufacturers. The agreement could be signed within the next few days.

There is a possibility though that the car companies might invite other brands to buy stakes in this. According to the source, the goal is to make the service an open platform for everyone. So they don’t have to rely on third-party platforms like Garmin and Google. Uber was supposedly in talks to buy Here but they gave up on bidding several weeks back. Another possible outcome of the takeover is it’ll help companies develop self-driving cars.

Source: The Wall Street Journal | Via: Apple Insider

Facebook now uses Nokia Here maps

Ahead of the sale of Nokia’s Here maps, which doesn’t have a solid buyer yet, Facebook looks to be making its own deal with Nokia for their maps application. Nokia’s Here is being used on Facebook on mobile, Facebook Messenger, and Instagram on Android. Facebook also seems to be using the maps application’s geocoding behind the scenes so users can tag locations in posts.

The move from using Microsoft’s Bing to Nokia Here maps is said to “give us more control and flexibility in delivering a consistent maps experience.”

Source: The Verge

Nokia to release global update for HERE Maps

Nokia’s HERE Maps is as close a rival to Google Maps as it can get. It’s godsend when you’re in a foreign country since you can navigate using the app without Internet connection. The app is getting an extensive update worldwide for Android and Windows Phone (there is in iOS app yet). There will reportedly be improved “water features” as well as updates for most of regional maps. Expect it to come to your device soon.

Source: Ubergizmo