Nokia in talks to acquire Navteq: WSJ

Written by:
Subscribe to Oneindia News

New York/Helsinki, Oct 1: Nokia was deep in talks on Sunday night to buy digital map supplier Navteq Corp, the Wall Street Journal reported on its Web site on Monday, citing people familiar with the matter.

Nokia and Navteq have been in discussions over the past few weeks, but it was still possible those talks could crumble over last-minute issues, the report said.

With a market value of $7.6 billion, Navteq would be one of Nokia's largest-ever corporate takeovers.

Nokia declined to comment, and Navteq was not immediately available for comment.

Navteq has been seen as a takeover target since TomTom, the world's top maker of car navigation devices, offered in July 1.8 billion euros ($2.55 billion) for its only big rival Tele Atlas.

Nokia bought into the navigation industry last year when it bought German firm Gate5.


Please Wait while comments are loading...