Nokia To Buy Navigation/Digital Maps Company Navteq For $8.1 Billion

From MocoNews.net: Nokia (NYSE: NOK) is buying Chicago-based digital maps and navigation company Navteq for about $8.1 billion, its biggest acquisition ever. Navteq’s service allows electronic mapping for in-vehicle navigation devices and for mobile-phone apps used for shopping, emergency services and advertising. Nokia will use the acquisition to bolster its internet services push, and Olli-Pekka Kallasvuo, Nokia’s CEO, indicated Navteq’s technology would be integrated into its other content and service efforts.

Nokia CEO Olli-Pekka Kallasvuo has trying to steer the Finnish giant into a software and services company….on the services side it has bought Loudeye, Enpocket, Twango and other companies in an attempt to help in the content and marketing apps space. More here.

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