• Uber Offers $3 Billion for Nokia's Digital Mapping Service, Here

    Nokia’s Here, the digital mapping service, is currently set to sell for more than $3 billion thanks to a bid made by transportation service, Uber, despite whether or not Apple is still in the running to buy the service. Uber officially submitted its $3 billion offer for Nokia Here according to sources who are familiar with the process according to The New York Times. As of right now, the bid from Uber is said to be competing with one from a consortium made up of BMW, Audi, Mercedes-Benz and Baidu.

    It wasn’t mentioned whether Apple was still in the running or not but it was reported that Nokia was previously courting Apple in an effort to earn a $3.2 billion amount for the sale of its digital mapping service. If Apple did end up buying Nokia’s Here for the price that Nokia is asking for, it would be the largest acquisition that the company has ever made, even larger than the $3 billion it spent on Beats last year.

    For Nokia, its maps business has been quite a bright spot while the company struggled during its various attempts to restructure as a networking company. The company’s Here mapping division previously saw its profits increase by roughly 20% to 162 million euros just last quarter.

    We’ll have to see who ends up winning the bid by waiting patiently and furthermore, seeing what they end up doing with the service.

    Source: The New York Times
    This article was originally published in forum thread: Uber Offers $3 Billion for Nokia's Digital Mapping Service, Here started by Akshay Masand View original post
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