Nokia and NAVTEQ have announced an agreement for Nokia to acquire NAVTEQ at a cost of 8.1 billion dollars ($78 a share). The board of directors at NAVTEQ have agreed to the deal and now the deal is awaiting approval from shareholders. NAVTEQ is one of the two largest mapping services in the world. In their press release Nokia said their acquisition of NAVTEQ will allow them to strengthen “location based services offering and bring to market the most innovative, context aware Nokia Internet services with accelerated time to market.
[via
EngadgetMobile]
