Statements of Nokia and Navteq:
“Nokia and NAVTEQ together make a powerful combination, and customers will benefit as the transaction enables NAVTEQ to accelerate its expansion into new regions and introduce innovative new content. This is an industry poised for further growth and NAVTEQ will play a major role in the field,” said Olli-Pekka Kallasvuo, President and CEO, Nokia. “The addition of NAVTEQ comes at the right time for Nokia’s business, allowing us to create the leading location platform just as context-aware and location-based Internet services expand rapidly into mobile communications devices.”
Judson Green, President and CEO of NAVTEQ, said: “Nokia has a deep understanding of the requirements for the industry. As part of Nokia, NAVTEQ will further invest in its map and content capabilities and make our products and services easier for all our customers to use and access.”
“NAVTEQ’s map data already play an important role in Nokia Maps service, which brings downloadable maps, voice-guided navigation and other context-aware web services to people’s pockets. Now that the acquisition has been completed, this role will become even more important as context-aware Internet services grow,” added Niklas Savander, Executive Vice President for Services & Software, Nokia.
The transaction is valued at approximately $8.1 billion.
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has more than 3,600 employees located in 187 offices and in 39 countries. NAVTEQ maps are available in 73 countries today and are distinguished by their detailed inclusion of over 260 road network attributes essential to dynamic, turn-by-turn route guidance and navigation.
With the deal Nokia Maps will be strenghtend. Nokia Maps covers over 200 countries, with over 70 of them navigable. Nokia Maps 2.0 has improved its optional Car Navigation, enhanced its pedestrian navigation, added multimedia city guides, offers satellite images, and is sporting a redesigned user interface.
Written and submitted from Home, using my 802.11g WiFi network.
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