Photo: nokia
It has been the focus of the three major premium manufacturers in Germany for quite some time now, and it looks like things are finally turning around. We’re talking about the Nokia Maps division that has been up for grabs since earlier this year and BMW, Audi and Mercedes-Benz are working together to get it.
The Finnish company is looking to get around $4 billion for its Nokia HERE Maps division, one of the best in the business. However, while the three German companies are really interested in acquiring it, the price seems to be just too high for them at the moment. The problem is, if the division falls into the hands of other companies, the car makers might face some big problems later on.
That’s because around 80 percent of cars with in-dash navigation system in North America and Europe use the maps data from the Finnish division, according to Automotive News.
The good news is that according to various sources close to the inner makings of the deal, Nokia seems to favor the three German companies over other interested investors. They include NavInfo, EQT Partners and three US private-equity firms: Hellman & Friedman, Silver Lake Management and Thoma Bravo.
It seems like Baidu, China’s equivalent to Google is also interested in the company and could join forces with the Germans to try and acquire the division. In return, they get help in expanding their mapping business in China.
The interest from Baidu comes as Google is forbidden from mapping China at the moment. Therefore, Nokia’s Here division could prove to be essential in selling and using self-driving cars in the communist country. At the same time, it appears like the Chinese company will only be allowed to use the software on its homeland.
That’s because around 80 percent of cars with in-dash navigation system in North America and Europe use the maps data from the Finnish division, according to Automotive News.
The good news is that according to various sources close to the inner makings of the deal, Nokia seems to favor the three German companies over other interested investors. They include NavInfo, EQT Partners and three US private-equity firms: Hellman & Friedman, Silver Lake Management and Thoma Bravo.
It seems like Baidu, China’s equivalent to Google is also interested in the company and could join forces with the Germans to try and acquire the division. In return, they get help in expanding their mapping business in China.
The interest from Baidu comes as Google is forbidden from mapping China at the moment. Therefore, Nokia’s Here division could prove to be essential in selling and using self-driving cars in the communist country. At the same time, it appears like the Chinese company will only be allowed to use the software on its homeland.
Google News