Corporate News: Nokia to acquire Navteq; Cellphone firm adds navigation software in $8.1 billion deal

Nokia's interest in Navteq represents a vigorous move into the mobile-services arena, where Nokia has been building a suite of products around games and music. These types of services have been in development for years by mobile-phone makers like Nokia, as well as by telecom-service providers....

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Published inThe Wall Street journal Asia
Main Author Dennis K. Berman and Jason Singer
Format Newspaper Article
LanguageEnglish
Published Hong Kong Dow Jones & Company Inc 02.10.2007
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Abstract Nokia's interest in Navteq represents a vigorous move into the mobile-services arena, where Nokia has been building a suite of products around games and music. These types of services have been in development for years by mobile-phone makers like Nokia, as well as by telecom-service providers. Around the telecommunications world, there is a growing sense that these services are finally ready for wide- scale consumer adoption. Nokia and Navteq already have a business relationship, where Navteq provides information for Nokia's mobile phones. TomTom NV, a Dutch provider of navigation solutions, declined to comment on Nokia's purchase of Navteq, but a Petercam analyst said: "In hindsight, TomTom's purchase of Navteq's main competitor, Tele Atlas, has been very clever."
AbstractList Nokia's interest in Navteq represents a vigorous move into the mobile-services arena, where Nokia has been building a suite of products around games and music. These types of services have been in development for years by mobile-phone makers like Nokia, as well as by telecom-service providers. Around the telecommunications world, there is a growing sense that these services are finally ready for wide- scale consumer adoption. Nokia and Navteq already have a business relationship, where Navteq provides information for Nokia's mobile phones. TomTom NV, a Dutch provider of navigation solutions, declined to comment on Nokia's purchase of Navteq, but a Petercam analyst said: "In hindsight, TomTom's purchase of Navteq's main competitor, Tele Atlas, has been very clever."
Author Dennis K. Berman and Jason Singer
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