From ComputerWorld: Nokia has reached an agreement to sell its Here mapping and location services business to an automotive industry consortium consisting of Audi, BMW Group and Daimler, in a deal that gives the business an enterprise value of €2.8 billion ($3.1 billion).
The deal fits with the plans of the automakers to progressively introduce more Internet-based services and automation to assist drivers. Here is developing a location cloud that uses the data generated by vehicles, devices and infrastructure to deliver real-time, predictive and personalized location services, Nokia said in a statement Monday.
The three automotive companies said they will each hold an equal stake in Here, but will take a hands-off approach to the business which will be run independently to serve the entire industry.
The companies said the acquisition aims to ensure the long term availability of Here products and services as an open and independent platform for cloud-based maps and other mobility services that will be accessible to customers from the automotive industry and other sectors.
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