Nokia’s €2B mapping business attracts Facebook, Uber and others — report

Nokia’s €2B mapping business attracts Facebook, Uber and others — report

22 APR 2015

Nokia’s HERE mapping business has drawn interest from at least four potential bidders — Facebook, Uber, a consortium of German carmakers and a US private equity group – according to Manager Magazin.

The Finnish company announced last week it was reviewing options, including divestment, for HERE. The announcement came on the same day it confirmed its €15.6 billion bid for Alcatel-Lucent.

The companies reportedly having a peek at the mapping unit’s books include a consortium of BMW, Audi and Daimler, private-equity group Hellman & Friedman, as well as the two internet firms.

HERE’s most recent quarterly numbers showed strong revenue growth. In Q4 2014 the business saw net sales jump by 15 per cent to €292 million.

Along with Google, HERE is a market leader in mapping data. And it is an attractive possible target for internet firms wanting to avoid dependence for their location information on arch rival Google.

The latest report repeats earlier estimates that HERE would fetch in the region of €2 billion in a sale.


Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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