7/11/2008 11:10:00 AM
Nokia completes deal for mapping company Navteq
Nokia has completed its £4.1bn acquisition of digital mapping company Navteq.
At the beginning of July, the European Commission gave Nokia unconditionalapprovalfor the purchase of Navteq, paving the way for yesterday’s announcement.
Olli-Pekka Kallasvuo president and CEO of Nokia said: ‘This is an industry poised for further growth and Navteq will play a major role in the field.
‘The addition of Navteq comes at the right time for Nokia's business, allowing us to create the leading location platform just as context-aware and location-based internet services expand rapidly into mobile communications devices.’
Nokia recently launched one if its biggest evermarketing campaigns, centred around its latest device, the 6220, as it looks to position itself as the leading brand for navigation devices.