NOKIA announced on Thursday that it will finish the sales of HERE map business today. According to its initial plan, this deal woule be complished in the first quarter of 2016.
Base on the initial agreements they made, BMW, Audi Daimler will hold the equally share of HERE after the deal is done.
BMW, Audi and Daimler announced to acquire NOKIA HERE digital mapping business at about $ 2.7 billion on August 3rd. They aimed to battle with Baidu and Uber by obtaining the dominant right of this world-classic car navigation maping business.
BMW, Audi and Daimler once teamed up with each other in the components and parts field. However, such scale of cooperated acquisition is unprecedented.
This acquisition means that the German vehicle manufacturers hope to independently develop the self-driving technology. The technology giant Google is also studying in self-driving technology in this field.
As is known, 80% of the American and European vehicle navigation are using HERE map data at present. This acquisition might a lot for those three giants to improve their competitiveness.
NOKIA will focus on the business of cell phone network equipment. NOKIA acquired Navteq at the expense of $8.1 billion in 2008. The Navteq became the most important element of HERE map department then.