We just have received the news that Nokia is all set to acquire NAVTEQ in upcoming week and have completed almost all formalities required. Major hurdle seems to be the European comission approval which has been given to Nokia just yeaterday for acquiring the leading automative navigation system service provider in Europe. Along with the parent company, Nokia also will acquire Traffic.com which is a part of NAVTEQ and provides comprehensive details on web regarding traffic information and contenttraffic information and content to consumers to consumers.
Olli-Pekka Kallasvuo, President & CEO said to press ” 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,”
According to source these will be the new addition of war of GPS capability of smartphone and Nokia has put the step forward in the race followed by Apple.
(via)
Tags: nokia
