Nokia’s Purchase of Navteq Approved by the EU

Nokia keeps on buying companies. We’ve seen them do it earlier on with their latest purchase being Symbian a little while ago. The European Union just gave the go ahead to Nokia for their intention of buying the Navteq company. The deal is expected to be completed by July 9th.

Why Navteq? Well apparently Navteq will be a key component of future Nokia devices. What they do is actually really important and Nokia’s move isn’t that surprising. Navteq has “world leading maps” and a lot of navigation experience. In other words they will play an important part in what GPS, geo tagging, and world mapping, will mean to future Nokia smartphones and other devices. The American company will be bought for $8.1 million and it will continue to offer their support to current customers as part of the Nokia Group business.

Nokia’s CEO, Olli-Pekka Kallasvuo said: "Location-based services are one of the cornerstones of Nokia's Internet services strategy. The acquisition of Navteq is another step toward Nokia becoming a leading player in this space."


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