Nokia Buys Map Software Firm

Deal seen as move to boost use, fend off iPhone with more location-based services
By Nick McMaster,  Newser Staff
Posted Oct 1, 2007 3:26 PM CDT
Judson Green, CEO of Navteq Corp., poses in the company offices in Chicago in this July 2, 2007 file photo. Nokia Corp. is buying U.S. navigation-software maker Navteq Corp. for around $8.1 billion as...   (Associated Press)
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(Newser) – Nokia announced it would buy Navteq, a mapping and navigation software maker, for $8.1 billion, the New York Times reports. Nokia is trying to bring mapping and other location-based services to cellphones in an attempt to combat sliding sales from handset market saturation and compete with Apple's iPhone, which comes with Google's navigational software.

The acquisition is Nokia's largest ever, underscoring the value Nokia sees being ahead of the curve for incorporating map-based services into regular handsets. Industry analysts agree: “We are starting to see this taking off--having maps in your pocket and something that can find things or locate you will be a plus.”