Nokia has completed its previously announced acquisition of NAVTEQ. The transaction is valued at approximately $8.1 billion. As part of Nokia, NAVTEQ will continue to service its customer base, invest in the further development of its map data and technology platform, and expand coverage of countries.
NAVTEQ is a leading provider of comprehensive digital map data for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 3 000 employees located in 168 offices in 30 countries. NAVTEQ maps are available in 73 countries and include over 260 road network attributes essential to dynamic, turn-by-turn route guidance and navigation.
Powered by NAVTEQ's map data, Nokia will redefine the Internet and connected experiences by adding context - time, place, people - to web services optimised for mobility.