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Audi, BMW and Daimler acquire Nokia’s HERE

Audi, BMW and Daimler acquire Nokia’s HERE

Snapshot: Audi, BMW and Daimler have officially announced plans to buy Nokia’s HERE mapping service.

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This is one of the most important business deals in recent times in the automotive industry and comes somewhat as a surprise that Audi, BMW and Daimler have joined forces since the ongoing competition between the three is extremely fierce. We don’t know how much money the three prestige German marque have agreed to pay, but some are saying Nokia originally asked $4 billion and in the end they agreed for $3 billion, but we are not entirely sure that’s the case and we should better wait for an exact number, if one of the parties involved will disclose this information.

What we do know is that HERE will be turned into an independent company and Audi, BMW and Daimler will have an equal share in the firm, once the transaction will be completed in the first quarter of 2016. For this to happen, the antitrust authorities will have to agree with the major deal and obviously there are tons of other details to iron out.

The German trio aims to keep HERE as an open platform available for all customers and they want to carry on with the operational business and management without interfering, but obviously the new owners will want to make some changes to take advantage of their new acquisition.

HERE is currently available in almost 200 countries and in more than 50 languages from all over the world and the plan is to expand this service to more and more customers in need of high-precision mapping services. These highly detailed maps will serve as foundation for a new generation of assistance systems and ultimately will help the development of autonomous driving. The digital maps will work together with real-time vehicle data to boost road safety and facilitate the development of new products and services to make our roads safer.

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