Audi, Benz and BMW bought Nokia’s Here maps Unit

By | August 3, 2015


As we all know Nokia is expanding its business into Virtual Reality world, but it looks like it doesn’t want to deal with its maps business, because Nokia is selling its Here maps services to German car makers. The consortium to which Here has been sold include Audi, BMW and Mercedes parent company Daimler. The final price of the deal was €2.8 billion, which is bit more than $3 billion. Here each company will hold the equal share of the stake and none will seek to acquire a majority stakes. According to a report published in the Wall Street Journal, the main principle of this deal is to invite other carmakers to invest in this new business.

Dieter Zetsche the chairman of Daimler said, “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.”

Here app might not be the most popular app for mobile, but it is leading mapping app for cars. Nokia has said last year, that four out of five cars comes with Here in-built navigation. This services has been used by the new owner BMW, Audi and Daimler, but it is also used by some other car makers like Ford, Toyota etc.

The official press release of the new owner of Here maps, which include BMW, Audi and Daimler sates that :

“Here is laying the foundations for the next generation of mobility and location based services. For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving. Extremely precise digital maps will be used in combination with real-time vehicle data in order to increase road safety and to facilitate innovative new products and services. On the basis of the shared raw data, all automobile manufacturers can offer their customers differentiated and brand-specific services.”