Audi, BMW and Mercedes-Benz to buy Nokia’s HERE for $3 billion; announcement due on Monday
Nokia originally wanted $4 billion
A joint venture between Audi, BMW and Mercedes-Benz is just about to buy Nokia's HERE maps business.
Nokia wanted $4 billion for its HERE maps business, but now it seems they have reached an agreement with the German premium trio for $3 billion, with the official announcement set to be made on Monday. Sources close to the matter say the deal has not been finalized just yet and it could still be delayed or even fall apart, but Nokia did say its strategic review for HERE is at an "advanced stage", so most likely the papers are just about ready to be signed.
A consortium including Uber and China-based Baidu as well as another group led by Chinese online media company and social network Tencent were also interested in acquiring Nokia's maps business, but it seems the Germans have made a better deal to buy what is being considered as one of the best mapping solutions out there and it's very important for the German trio to get their hands on such an efficient service.