Nokia sells HERE mapping business to Audi, BMW, and Daimler for $3 billion

The deal that would send Nokia’s HERE mapping business to three German automakers is now official. On Monday, the Finnish company announced that it would sell HERE to Audi, BMW, and Daimler for around $3 billion.

Audi, BMW, and Daimler will be able to implement HERE’s technology in their vehicles as soon as next year. Each automaker will be able to make a transition away from Google and Apple’s offerings, allowing more flexibility when it comes to tailoring the experience of a connected car. HERE’s real-time updates and parking data will also make it possible for the German automakers to increase the performance of self-driving cars.

Following the deal, Nokia will be split into two business entities. Nokia Networks and Nokia Technologies. Both will have completely separate goals and functions. Nokia Networks, which includes the Alcatel-Lucent acquisition, will focus on selling networking equipment. Nokia Technologies will be heavily invested in the research and development of future technologies.

The deal will officially close in the first half of 2016 and HERE’s mobile app is said to remain unaffected.

Source: Nokia

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