Nokia Buying Navteq for $8.1 Billion

by Abraham Harrison on October 1, 2007 · 0 comments

Nokia feels like it keeps its head down in the US. I am in love with my Nokia n800, for instance. They’re innovative and they take risks. No matter what one says, Nokia made a grand slam by purchasing Navteq, a world leader in premium-quality digital map data, for $8.1 Billion. Why? Well, GPS has become ubiquitous and the mapmaker defines the globe. Via PR Newswire

Nokia has agreed to buy digital map supplier Navteq for $8.1 billion in cash, the companies announced Monday. Nokia, the world’s largest cellphone maker, will pay $78 a share for Navteq as it seeks to build out mapping capabilities in its products. Nokia and its competitors are looking for new sources of revenue, and mapping technology has become an increasingly popular feature.” Via PR Newswire

Here’s my sweet Nokia n800, basically a little Linux computer, called an Internet tablet, browsing Marketing Conversation over Wi-Fi at my local coffee shop, Murky Coffee. Sweet!

 


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