Navteq, a worldwide provider of digital map data, announced that Nokia has completed its previously announced acquisition of Navteq. The transaction is valued at about $8.1 billion.
Navteq says its maps will continue to be broadly available and expects to increase its investment in its map and traffic capabilities as part of Nokia. Navteq says its maps are available in 73 countries and include more than 260 road network attributes for dynamic turn-by-turn route guidance and navigation.
“We welcome this news,” says Olli-Pekka Kallasvuo, Nokia president and chief executive officer. “Navteq will play a key role in our Internet services strategy with world-leading maps and navigation industry expertise, a strong customer base and an industry-leading map data and technology platform offering the broadest geographical coverage.”