Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
    • Meet the 2021 winners
    • Browse photos from the 2021 awards ceremony
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Battery testing center for large battery packs and more
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automotive News Europe
July 21, 2015 01:00 AM

Nokia nears agreement with BMW, Audi, Mercedes on maps unit, report says

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Nokia's HERE supplies maps data to about 80 percent of cars with in-dash navigation systems in North America and Europe.

    MUNICH (Bloomberg) -- Nokia is nearing an agreement to sell its maps business to BMW Group, Audi and Mercedes-Benz, according to people familiar with the matter.

    An agreement could be reached as early as next week, with an announcement targeted for around July 31, said the people, who asked not to be named because the negotiations are private.

    Talks could still fall apart as the carmaker consortium hammers out final details such as intellectual property rights with Nokia, the people said. Nokia has sought as much as $4 billion for the unit, called HERE, people familiar with the matter have said.

    A joint purchase would be an unusual move for the German companies, which are battling for the lead in the global luxury-car market. The deal would give them access to the detailed maps that smart vehicles of the future will require.

    Representatives for the carmakers and a spokesman for Nokia declined to comment.

    The carmakers first approached Nokia about a sale, and as a key source of HERE's revenue, they've had the upper hand in the competition to acquire the business. HERE supplies maps data to about 80 percent of cars with in-dash navigation systems in North America and Europe. Other companies interested in HERE have included Apax Partners and Uber Technologies, people familiar with the matter have said. HERE's competitors include Google and TomTom.

    The sale would complete Nokia's transformation into a provider of wireless-network equipment, after its exit from mobile phones in 2014. The company agreed to buy rival network maker Alcatel-Lucent for 15.6 billion euros ($16.9 billion) in April to better compete with Huawei Technologies and Ericsson.

    While digital maps have gained users, Nokia's foray into the business didn't live up to expectations. The company built its maps unit by buying Navteq for $8.1 billion in 2008, and also acquired other location-technology companies.

    Rival TomTom today said Robert Bosch is using its high-precision maps in automated test vehicles.

    RECOMMENDED FOR YOU
    Punch CEO Guido Dumarey to speak at Automotive News Europe Congress
    Recommended for You
    Guido Dumarey Punch
    Punch CEO Guido Dumarey to speak at Automotive News Europe Congress
    Polestar CEO Thomas Ingenlath 2022
    Polestar CEO Thomas Ingenlath to speak at Automotive News Europe Congress
    Maria Grazia Davino Stellantis 2020
    Stellantis Europe sales and marketing chief to speak at Automotive News Europe Congress
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
        • Meet the 2021 winners
      • ANE Eurostars
        • Browse photos from the 2021 awards ceremony
    • More
      • Publishing Partners
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Battery testing center for large battery packs and more
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us