Nokia Acquires NavTeq for $8.1 Billions

Nokia just announced its intention to acquire Navteq, one of the 2 largest companies in the mapmaking business (the other one is Tele Atlas owned by TomTom).

Nokia promised to keep Navteq as separate business unit and it continues to provide map to Google, Garmin, iNavCorp-iGuidance – PocketPC Navigation software.

This move is considered as competitive advantage over new comers in the cellphone space such Apple iPhone and the speculated Google phone. Nokia clearly bets on the future of GPS related services on all mobile devices.

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