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Nokia HERE Maps likely going to German carmakers

by Jacob Kleinman | June 18, 2015

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Nokia may have already picked a buyer for its HERE Maps division, though the Finnish company is apparently considering other offers in an effort to drive up the price. Bloomberg reports that a group of German carmakers currently lead the pack of interested bidders.

A final round of bids for Nokia HERE is due this week, giving other companies one last chance to put in an offer for the mapping software. Uber and Baidu have also expressed interest in HERE; both may lose out to the alliance of carmakers, which includes Audi, BMW and Daimler.

Bloomberg also notes that Baidu, the leading search engine in China, is interested in teaming up with the carmakers. The company previously partnered with Uber to place a bid on HERE, but seems to have no issue switching sides in an effort to make the winning bid.

Nokia hopes to sell HERE Maps for as much as $4 billion, though that may be too high for some potential buyers. Still, it’s a pretty big drop from the $8.1 billion the company spent acquiring Navteq back in 2008, suggesting it may be desperate to sell now before the price falls even lower.

Bloomberg

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Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...


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