BMW, Audi, and Mercedes has Bought Nokia’s Mapping Tech for $3 billion

Nokia has just confirmed that it’s HERE maps unit has been sold for $3 billion (€2.8 billion) to a consortium formed by AUDI AG, BMW Group and Daimler AG.

President of Nokia Rajeev Suri in a statement said “with this step we complete the latest stage of Nokia’s transformation.”

HERE maps main aim is to “develop precise and accurate mapping as well as services that will enable an entirely new class of driver experiences, including highly automated driving” – Nokia said in the announcement.

This purchase is seen as the the formed consortium automakers move to use HERE’s mapping services to develop their own platforms for self-driving cars.

Nokia’s running businesses will now consist of “Nokia Networks” for broadband services and “Nokia Technologies” for development and licensing of advanced tech.

5:07 PM