AUDI AG, BMW Group and Daimler AG agree with Nokia Corporation on joint acquisition of HERE digital mapping business
- Acquisition will secure and strengthen HERE as an independent company serving customers from all industries
- Real-time maps and location based services will be the basis for the mobility of tomorrow
- Transaction expected to close in first quarter 2016
AUDI AG, the BMW Group and Daimler AG have agreed with Nokia Corporation that they will acquire its mapping and location services business HERE. The acquisition is intended to secure the long term availability of HERE’s products and services as an open, independent and value creating platform for cloud-based maps and other mobility services accessible to all customers from the automotive industry and other sectors. The three partners will each hold an equal stake in HERE; none of them seeks to acquire a majority interest. Subject to the approval of the relevant antitrust authorities, the transaction is expected to close in the first quarter of 2016.