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Phones.com » News » Nokia Buys Navteq ...

Nokia Buys Navteq for $8.1 Billion V.J. | , 7:30 p.m. July 10, 2008 2008-07-10


Nokia aims to improve their mobile web services. To bring users more details maps and navigation features the Finns bought the Navteq Corp which is a digital map maker. In the near future users will have the opportunity to access detailed navigation services.


The world’s leading handset manufacturer successfully acquired Navteq Corp based in Chicago for the remarkable sum of $8.1 billion. The company specializes in creating maps and software for portable devices and automobile navigation systems. Navteq already forges digital maps for companies like AOL, Google Maps and Yahoo! Maps.


Purchasing Navteq means that Nokia will be able to present to users quality maps for their mobile phones and will also expand Nokia’s mobile web services. This may be important to all cell phone users who are in strong need for maps and navigation features.


Navteq share holders will receive as much as $78 cash for each share. Nokia makes efforts to bring quality to users. The acquisition comes to the rising need for reliable mobile navigation services, something that Nokia does not want to ignore.

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