Nokia to Sell Here Map Software

A consortium of car companies – Audi, BMW and Daimler – have agreed to buy Nokia’s Here digital mapping and location services. The deal has been valued at €2.8 billion.

Nokia and the consortium expect the deal to close in Q1’16, subject to conditions and regulatory approvals. When this happens, Nokia estimates that it will receive slightly more than €2.5 billion, as the consortium will be compensated for ‘certain defined liabilities’, expected to be slightly below €300 million.