Nokia finalizes acquisition of Navteq

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Navteq, a worldwide provider of digital map data, announced that Nokia has completed its previously announced acquisition of Navteq. The transaction is valued at approximately $8.1 billion.

Navteq maps will continue to be broadly available and Navteq expects to increase its investment in its map and traffic capabilities as part of Nokia. Navteq maps are available in 73 countries today and include over 260 road network attributes for dynamic, turn-by-turn route guidance and navigation.

“We welcome this news. Navteq will play a key role in our Internet services strategy with world-leading maps and navigation industry expertise, a strong customer base and industry-leading map data and technology platform offering the broadest geographical coverage,” said Olli-Pekka Kallasvuo, President and CEO, Nokia.