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Wireless

Nokia closes sale of Here to carmakers' consortium

Friday 4 December 2015 | 15:36 CET | News
Nokia has closed the sale of its mapping division Here to a consortium of leading automotive companies comprising Audi, BMW and Daimler. The sale was first announced in August, with Nokia at the time forecasting that it wouldn't be completed until the first quarter of 2016. Here's enterprise value was EUR 2.8 billion, with Nokia finally receiving net proceeds of EUR 2.55 billion at closing. The company took the decision to sell Nokia to focus on its core business of network equipment ahead of its planned merger with Alcatel-Lucent, which is expected to close in the first quarter of 2016.

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Categories: Mobile & Wireless
Companies: Alcatel-Lucent / BMW / Nokia
Countries: World
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