Nokia is serious about putting SatNav applications in all future Nokia phones. Nokia today bought NAVTEQ, a GPS service with ownership of the The Map Network, the largest maps supplier in the US. This means Nokia Maps will become even more detailed and comprehensive, not to mention up-to-date. The price tag for NAVTEQ is $8.1 billion. Olli-Pekka Kallasvuo, Nokia president and CEO is optimistic: “The acquisition of Navteq is another step toward Nokia becoming a leading player in this space.
“By joining forces with Navteq, we will be able to bring context and geographical information to a number of our Internet services.”
With 900 million Nokia customers, NAVTEQ is also anxious to spread its wings. “Nokia’s unique vision for location-based services aligns perfectly with Navteq’s vision to enable everyone to find their way to people, places and opportunities on mobile communications devices,” says NAVTEQ president and CEO Judson Green.
[via nytimes]
May 25th, 2008 at 5:22 am
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