Nokia in talks to buy Navteq

Navigation software maker would be largest ever acquisition


1 October 2007 9:19 GMT / By Amy-Mae Elliott

Nokia is said to be "deep in discussion" to buy navigation software maker Navteq and has been in talks for the last few weeks, say "people familiar with the matter".

Navteq provides Nokia with GPS solutions for their mobile phones, so the companies already have a working relationship.

If realised, the buy-out would be Nokia's largest ever acquisition, Navteq has a $7.61 billion market capitalisation.

Although Nokia makes most of its money from handsets, the company is seen to be steering more towards software and services.

Its "Ovi" offering will offer a "one-stop destination for communities, content, context and more" and includes mapping services among music and games.


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Full tags
Phones, Mobile phone industry, Biz, Nokia, Navteq, Car And GPS

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