Mobile phone maker Nokia plans to acquire the map and navigational software maker Navteq for $US8.1bn.
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The New York Times said the acquisition, cell phone maker Nokia’s largest, is an indication of where Nokia and other handset makers are headed.
Navteq, supplier of digital map data to many automakers, specialises in location-based services, which uses the Global Positioning System (GPS) to track movement and delivers information to a consumer about routes and destinations. Because the services could include advertisements and promotions related to the locations, wireless carriers and mobile phone makers see potential for new sources of revenue, the paper said.
According to the NYT, Nokia said it would pay $78 in cash for each share of the digital mapmaker, including outstanding options.
The paper noted that TomTom, the world’s largest maker of car navigation devices, announced in August that it planned to buy Tele Atlas, Navteq’s main mapmaking competitor, for $2.7bn.
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