Nokia buys Navteq for a record $ 8.1 billion

Nokia announced its desire to acquire the world's largest manufacturer of electronic maps and navigation software Navteq for $ 8.1 billion. The acquisition must be approved by regulators and shareholders of Navteq. It seems there will be no problems with shareholders. It follows from the amount of the deal that Nokia offered $ 78 for each share, which is $ 34 more than last month. Navteq currently serves products like Mapquest, but Nokia does not plan to prevent the company from working with existing customers.

The acquisition of Navteq by Nokia seems to be a necessary step, since TomTom NV announced the acquisition of Tele Atlas NV - the main navigation software Nokia used - after completing the deal between TomTom and Tele Atlas, Nokia would have difficulty using Tele Atlas NV. With this competition, the takeover of Navteq will give independence to the Finnish company.

via ComputerWorld