Nokia Here said to be snatched up by Audi, BMW and Daimler for $2.7B - CIO
Here builds high-definition maps and combines them with cloud technology for access via a broad range of connected devices, including self-driving cars. Reportedly, Nokia had been hoping to receive as much as $4 billion for its Here technology. “Nokia has got to be disappointed” by the purchase price relative to both the $4 billion it hoped to get and the roughly $8 billion it paid for Navteq back in 2007, said Greg Sterling, vice president for strategy and insights with the Local Search... “They were all users of the product and see maps and navigation as a critical component of the self-driving car future,” Sterling explained. What remains to be seen is how much the companies continue to invest in and develop the platform and underlying data. Digital mapping is not a “set it and forget it” marketplace, but instead requires constant investment and attention to remain competitive, according to Sterling. Each company will have to decide how to differentiate its own products on top of the jointly owned technology, for instance, and whether or not to license its developments back to its partners, Llamas. Source: www.cio.com
