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Businesses Technology

Nokia Completes Sale of HERE Mapping Services (yle.fi) 15

jones_supa writes: Nokia announced on Friday that it has completed the sale of its HERE digital mapping and location services business to a group of German car manufacturers made up of Audi, BMW and Daimler. The deal, which was announced in August, valued HERE at €2.8B. Based on the current estimates, Nokia banked net proceeds of €2.55B at closing, which was consistent with its earlier estimated net proceeds. The company expects to earn a profit of about €1B. The cash could come in handy during the first quarter of next year as Nokia shells out €15.6B to finalize its purchase of the French telecom giant Alcatel-Lucent. The Finnish company's shareholders rubber-stamped that deal during an extraordinary general meeting at Helsinki Ice Hall on Wednesday.
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Nokia Completes Sale of HERE Mapping Services

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