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Nokia's HERE Maps Quick to Draw Suitors

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Apr 22, 2015, 7:18 AM   by Eric M. Zeman

Four companies have expressed interest in acquiring Nokia's HERE Maps business, reports Reuters. A coalition of German auto makers, Audi, BMW, and Daimler, are weighing a joint bid, as are Facebook, Uber, and U.S. investment firm Hellman & Friedman. Nokia recently said it is considering strategic options for the mapping unit, formerly Navteq, which it acquired in 2008 for more than $8 billion. Nokia expects to bring in about $2.1 billion through a sale of the business. Nokia may use capital generated by the sale to help fund its recently-announced purchase of Alcatel-Lucent. Nokia did not confirm Reuters' report, which cited a German trade magazine. The other companies could not immediately be reached for comment.

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