Nokia sells Here maps unit to Audi, BMW, and Mercedes for $3 billion

Nokia sells Here maps unit to Audi, BMW, and Mercedes for $3 billion

Nokia might be expanding into areas like VR, but it’s no longer in the maps business — it’s just sold its Here unit to a consortium of German carmakers including BMW, Audi, and Mercedes’ parent company Daimler. The final price was €2.8 billion, or just over $ 3 billion. Each partner will hold an equal stake in Here and none will seek to acquire a majority interest. The Wall Street Journal reported two weeks ago that the deal had been agreed in principle, and that the consortium plans to invite other carmakers to invest in the new business.

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“High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of Here, we want to secure the independence of this central service for all vehicle…

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