4/16/2008 12:14:00 PM
Nokia closing in on digital maps firm Navteq
Nokia is confident that its $8.1bn (£4.1bn) offer for US digital maps firm Navteq will be approved by the European Commission.
Niklas Savander, head of Nokia’s internet services business, told a news conference in Helsinki last week: ‘We are very confident it will happen. There are discussions taking place with the regulator.’
Nokia is looking for new revenue sources as the mobile phone industry matures, and this transaction would give the manufacturer a stronghold in the navigation business, which is one of the fastest-growing segments in the technology industry.
TomTom, the world’s top manufacturer of car navigation devices, also has its proposed deal to buy digital maps manufacturer Tele Atlas under scrutiny by the EU’s executive arm.