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From the News Desk
Monday, 1. October 2007
Nokia Says Will Buy Navteq
Finland based mobile phone maker Nokia is in talks to buy navigation-software maker Navteq, according to a Wall Street Journal report.
The newspaper said the two companies have been in deep discussions over the past few weeks, though it is still possible the talks could crumble over a series of last-minute issues. If successful, the acquisition could be one of Nokia’s largest. Nokia is seldom linked to acquisition, preferring to grow organically.
With a market cap of almost USD 7.5 billion, Navteq is one of the world's leaders in electronic mapping. Its products are used inside a number of automobiles.
Of late, Nokia led by its CEO Olli-Pekka Kallasvuo, has been trying to gain a foothold in the software and services business.
The newspaper said the two companies have been in deep discussions over the past few weeks, though it is still possible the talks could crumble over a series of last-minute issues. If successful, the acquisition could be one of Nokia’s largest. Nokia is seldom linked to acquisition, preferring to grow organically.
With a market cap of almost USD 7.5 billion, Navteq is one of the world's leaders in electronic mapping. Its products are used inside a number of automobiles.
Of late, Nokia led by its CEO Olli-Pekka Kallasvuo, has been trying to gain a foothold in the software and services business.
