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Nokia sold its Here maps to Audi, BMW, and Mercedes

Nokia Corporation (NYSE:NOK) says it has completed the final step in its restructuring plan with the sale of its HERE digital mapping division. The former smartphone giant announced on Monday that HERE is being acquired by a group of German automakers for around $3 billion. The automaker consortium includes AUDI AG, the Bayerische Motoren Werke AG (ETR:BMW) (FRA:BMW) Group and Daimler AG (ETR:DAI) (FRA:DAI) (OTCMKTS:DDAIF) AG.

Nokia Here Maps android

The HERE consortium notes the acquisition will secure the long-term availability of HERE’s products and services as an open, independent platform for cloud-based maps and other mobility services that will be available to all customers in automotive industry and other sectors. Each of the three partners has an equal stake in HERE, and all have committed to not seek a majority interest.