Nokia has sold “HERE maps” for $3 billion to Audi, BMW and Mercedes

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After lots of rumours concerning the sale of Nokia‘s HERE maps, the company has just confirmed that it has sold the product to several car manufacturers for $3 billion.

Audi, BMW and Daimler formed a consortium to buy the mapping unit from Nokia.

Nokia sells maps to car makers

The company said that the focus of HERE 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 now means the company can get on with its planned merger with French company Alcatel-Lucent.

Once HERE maps is completely handed over, Nokia will be just two businesses – Nokia Networks and Nokia Technologies. The former will provide broadband services and infrastructure and the second will work on advanced technology and licensing.

The purchase should allow the car companies to make their own platforms for self-driving cars, which requires precise maps and GPS technology.

The deal with Alcatel-Lucent is expected to be finalised in the first half of 2016.

SOURCE: TheNextWeb.

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