Nokia finally unloaded its HERE Maps division, and did it for a pretty penny. The sale – which was announced today – is for over $3 billion ( €2.8 billion) and it was reached with a group of three carmakers including BMW, Audi, and Mercedes’ parent company Daimler. The purchase is split equally among all three buyers with none seeking majority ownership.

In the press release announcing the move, the three car companies express their excitement for the future with their acquisition: “Here is laying the foundations for the next generation of mobility and location-based services. For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving. Extremely precise digital maps will be used in combination with real-time vehicle data in order to increase road safety and to facilitate innovative new products and services. On the basis of the shared raw data, all automobile manufacturers can offer their customers differentiated and brand-specific services.”

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Source :

BMW Group