Nokia to sell its Here Maps business to Audi, BMW and Daimler

Nokia  has confirmed that it will sell its Here maps as one to the 3 German car makers Audi,  BMW group and Daimler for $3.07 billion, after a long period of speculation.

Here Maps is what we’d consider Google Maps’ rival at the moment. Running a mapping service doesn’t come cheap as locational data has to be collected almost everyday to keep up the standards that people need, and also to ensure that every point on the map has the right name or coordinates.

The 3 companies buying Here maps will have an even number of shares in it,  but the deal should only be expected to be finalised by the 1st quarter of 2016, according to a report in Re/code.

As to whether Here Maps will be licensed to others by the 3 car makers or simply kept/used amongst themselves, that is yet to be confirmed.

When this deal is signed off,  Nokia will only be left with two businesses: its mobile network equipment business, and a smaller patent and licensing business.

Some huge known customers of Here are Microsoft, Samsung, and  Amazon.

“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 carmakers said in their press release announcing the purchase.

“The management of Here will continue to be independent — with the goal of moving the Here business case forward as a platform, open to all customers. The consortium will not interfere into operational business.”

There has also been rumors of Nokia returning to it’s liberating business but will have to use another company to create the hardware, as it sold off that mobile phone manufacturing part of its business to Microsoft.

Do you own an Audi, BMW or Daimler?  Is Here Maps a feature that appeals to you?