Uber reportedly offers $3 billion for HERE

Uber reportedly offers $3 billion for HERE
HERE maps has drawn a lot of interest from companies looking to buy it. While Facebook and Microsoft have expressed interest in Nokia's mapping service in the past, some new potential bidders for HERE have recently popped up. After Nokia announced in April that it was looking to divest itself of its mapping service, auto manufacturers Mercedes-Benz, Audi and BMW expressed interest in teaming up as a consortium with Chinese social media firm Baidu to acquire the company.

But according to the New York Times, a new player has actually made a firm bid for HERE. The newspaper cites three people with knowledge of a bid made by ride-sharing service Uber for HERE. According to these sources, Uber has offered as much as $3 billion for the mapping company. Uber's offer will compete with others coming from the Mercedes-Audi-BMW-Baidu team and one from a private equity firm that is interested in the company. The sources are saying that right now, only Uber and the private equity firm have actually submitted bids.

Nokia is expected to announce the sale of HERE at the end of this month.  HERE had revenue of $1.1 billion last year and employs 6000 people. It makes 3 million daily adjustments in a bid to remain accurate. Jamie Moss, an analyst at London based tech research firm Ovum said, "It’s extraordinarily difficult to get this type of mapping data. Other than Google, Here is one of the few companies that can offer this data right now."

Uber has been using Google Maps, Apple, and other technology to help match Uber drivers and riders. The company, backed in part by Google's venture capital arm, has been looking to break away from dependence on Mountain View. To that end, it purchased deCarta, a ten-year old mapping company. And according to those in the know, Uber has also hired a number of mapping software engineers.

The bidding for HERE could end up to be quite a battle. The automobile consortium is planning on using HERE to run autonomous cars that drive through the city with limited human interaction. The group also says that it plans on licensing HERE to others so that it remains relevant globally, and continues to be Google Maps chief rival. Currently, Android, iOS and Windows Phone users can use the mapping service on their handsets.

A wild card in the bidding for HERE could throw the bidding into hyperdrive. Last month, Bloomberg reported that deep pocketed Apple was interested in HERE. Apple Maps never really gained traction after its poor start on life and with $180 billion in the bank, the company can easily afford such a transaction.

source: NYTimes

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21 Comments

1. gaming64 unregistered

Dear Nokia, Don't sell HERE Maps. Others just want it because they have crappy maps

3. Commentator

Posts: 3723; Member since: Aug 16, 2011

...But that's the point, right?

11. tech2

Posts: 3487; Member since: Oct 26, 2012

IKR! Why would they bother to buy HERE Maps if their own mapping system was spot on.

7. microsoftnokiawin

Posts: 1268; Member since: Mar 30, 2012

Nokia chief of something said they're reconsidering selling here maps

13. Dingy_cellar_dweller

Posts: 339; Member since: Mar 16, 2013

They won't sell it for $3 billion when it makes them $1.1 billion per year, it should be more like $11 billion plus.

17. hound.master

Posts: 1044; Member since: Feb 27, 2015

The revenue was due to the fact that here map went to Android and IOS but still 3 billion is nothing they should never let go of it with this price.

24. rubertus

Posts: 57; Member since: Oct 07, 2014

With you there, and besides Uber is a joke of company riding on the new tech bubble.

2. Hashed unregistered

As long as Here Maps doesn't go to apple, then I don't have a problem with it being sold, I depend on Here in my trips, Offline is a great feature to have.

4. gaara6775

Posts: 738; Member since: May 20, 2014

So true. But I have seen "here" on my friends 5s,its much smoother and smarter than on my m7. So I don't mind apple taking it over,just they should not remove the offline feature.

5. Hashed unregistered

The problem with apple taking Here is that they are going to take it away from other platforms, and they are gonna charge an arm and a leg for the service. I tried to make myself like apple OS, but it seems impossible, plus their overpriced products annoy me, I bought my wife a note 4, and got me a S5, and they deserve the money put in them.

8. gaara6775

Posts: 738; Member since: May 20, 2014

Hmm,yea maybe they will charge for other platform but then we can download the cracked apk too. LoL. Android has ways. I actually like iOS for their app fluidity,no stuttering nothing. Maybe someday I'll give them a try when their device start giving good battery backup.

18. Lamborghini_

Posts: 11; Member since: Jan 16, 2015

Samsung fanboy spotted

16. Martin_Cooper

Posts: 1774; Member since: Jul 30, 2013

You do realise that any other company beside google would take HERE maps for its own users only? Uber would make it its own for its uber app and that's for sure. Stop being a crybaby and realise that's how the world works.

6. Spedez

Posts: 542; Member since: Aug 29, 2014

Well that's a "good deal". Nokia paid over 5 billion of it many years back.

10. Settings

Posts: 2943; Member since: Jul 02, 2014

Just license it, no need to sell it.

12. 99nights

Posts: 1152; Member since: Mar 10, 2015

Not to uber

14. jojon

Posts: 433; Member since: Feb 11, 2014

not to Apple..never to Apple

15. SIGPRO

Posts: 2817; Member since: Oct 03, 2012

Here is the best navigation till now, i use it for years! If Apple buys it i will not use it anymore, Apple sucks!

19. Awaragardiyan unregistered

gotta download the whole country maps before they sell.

21. An.Awesome.Guy

Posts: 636; Member since: Jan 12, 2015

I hope that they don't sell it ti MS, Apple, Baidu, Facebook. And I hope whoever bought it keeps its greatness alive and stable.

23. MrElectrifyer

Posts: 3960; Member since: Oct 21, 2014

I hope Microsoft buys them. Microsoft is well known for making cross-platform apps and services (from games to productivity tools to research tools) and I have fait they'll integrate this with Bing maps.

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