p2pnet news | Product News:- Nokia has flashed out a massive $8.1 billion in cash to buy digital map supplier Navteq.

“Navteq’s major customers are automakers and auto suppliers, who license its databases for dashboard navigation systems,” said the New York Times, going on, “Some had theorized that Google could be interested in buying Navteq; others suggested that a private equity firm might be circling the company.”

Chicago-based Navteq offers digital maps for 69 countries on six continents that can be read by most navigation systems available in North America and Europe, says Agency France-Presse, adding:

“Nokia’s N95 and 6110 models both have GPS readers, and the acquisition of Navteq is expected to give a boost to the Finnish company’s sales.”

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Also See:

New York Times - Nokia to Buy Navteq for $8.1 Billion, October 1, 2007

Agency France-Presse - Nokia to acquire digital mapmaker Navteq for $8.1 billion, October 1, 2007

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This entry was posted on Monday, October 1st, 2007 at 9:42 am and is filed under Product News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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