Nokia completes acquisition of NAVTEQ

By: IT Europa
Source: Press Release
Published: 11/07/2008
Copyright: IT Europa

Nokia has completed its acquisition of NAVTEQ, a provider of comprehensive digital map information. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world.

 

 

When the formalities are done, NAVTEQ will continue to service its existing customer base, and invest in further development of its map data technology platform. It will continue to build and expand coverage of countries already included in its database as well as add new pieces of both static and dynamic content.

 

 

For its part, Nokia says that it will continue to integrate NAVTEQ's technology into its product lines, allowing it, to "add context" to mobile web services, allowing users to access data relevant to their current location.

 

 

"The addition of NAVTEQ comes at the right time for Nokia's business, allowing us to create the leading location platform just as context-aware and location-based Internet services expand rapidly into mobile communications devices," says Olli-Pekka Kallasvuo, President and CEO, Nokia.

 

Judson Green, President and CEO of NAVTEQ, said: "Nokia has a deep understanding of the requirements for the industry. As part of Nokia, NAVTEQ will further invest in its map and content capabilities and make our products and services easier for all our customers to use and access."