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Report: $3.2 billion Sale of HERE to German automakers to be announced tomorrow

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Report: $3.2 billion Sale of HERE to German automakers to be announced tomorrow
It is no secret that Nokia is looking to sell HERE and its entire mapping business. While a number of prospects have been named as potential buyers of the business, back in June it was reported that a trio of German auto manufacturers (Audi AG, BMW AG, and Daimler AG) were the leading candidates to make the purchase.

On Sunday, a published report says that the trio of car makers have agreed to shell out $3.2 billion for HERE. Now available on multiple platforms, HERE is considered one of the better mapping services available for mobile devices. That could explain why Apple and Microsoft were among the original names linked to the sale. Another group that was rumored to make a bid on HERE was ride sharing service Uber, teamed up with China's micro-blogging powerhouse Baidu.

The deal is expected to be announced tomorrow. The auto companies are interested in mapping because it can help navigate self-driving cars, changing routes where there is an accident. The mapping service can also help prevent collisions from occurring in a future where autos drive themselves.

For Nokia, the deal clears the decks so that it can focus on its $16.6 billion purchase of networking firm Alcatel-Lucent.

source: Reuters

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