nokia-here

Audi AG, BMW Group and Daimler AG have successfully completed the acquisition of Nokia’s digital mapping and location business, Here. The deal, which was announced back in August, is worth 2.8 billion euros, and was concluded after all competent antitrust authorities approved the transaction.

The deal was originally expected to close in the first quarter of 2016. In a press statement, the German trio stated that each will hold an equal stake in Here. Nokia’s Here, which includes mapping, navigation and location services, provides the automakers with access to technology that could eventually be used for driverless (autonomous driving) cars in the future.

Currently, Here-powered satnav systems can be found in four out of five vehicles (80%), claims Nokia. All three German manufacturers already utilise Here in their vehicle’s satnav systems. This acquisition could also result in improved navigation capabilities in vehicles thanks to the combination of detailed digital maps working, along with real-time vehicle data such as traffic info.

“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 manufacturers, suppliers and customers in other industries,” Daimler chairman Dieter Zetsche previously said.