Home PageFacebookRSS News Feed
PocketGPS
Web
SatNav,GPS,Navigation
News: Nokia announce the acquisition of Navteq

pocketgpsworld.com Just as I was completing the competition to see who would be involved in the next company take over in the SatNav industry I was piped to the post by the announcement today that Nokia is to buy Navteq. This somewhat messes up an article I had in preparation about the TomTom take over of Tele Atlas.

The purchase price values Navteq at US $8.1 billion. The offering is a 34% premium on the Navteq share price from last month. Interestingly unlike the TomTom/Tele Atlas announcement, Navteq shares have fallen slightly today by 2%.

This announcement now means that we no longer have any independent global mapping companies. It also shows that both TomTom and Nokia have serious visions for the future in navigation and Location Based Services.

Last month there was a lot of talk and speculation at the Canalys Navigation forum where the leaders of the SatNav industry met. The keynote from the Canalys president Steve Brazier speculated on who could put in a bid for who with a graph of the Market Capitalisation of the relevant companies. Nokia were 4th on the list of potential buyers after Microsoft, Google and HP. Whereas in the GPS sector Navteq are second in MC to Garmin. In a poll of the attendees the consensus of opinion was that Garmin would buy Navteq. Nokia didnt come into the equation... We were all wrong.

My money was on Google acquiring Navteq. I was wrong as well.

I suppose in the end it makes a lot of sense for Nokia to buy into this market as they can have the authority to produce total solutions and then distribute them World-Wide. Once again we see a bold move being made which is still reliant on the Wireless Carriers to make or break the uptake of LBS in the mass market.

I was unable to contact either Navteq or Nokia today for comments, but I will be seeing some senior Navteq Execs at CTIA in a few weeks time. Where I will be able to quiz them about the deal and what it will mean to the users.

Click here to read more including the full Navteq/Nokia press release...

Click here to discuss...


Posted on Monday, October 01 @ 20:38:24 UTC by Mike Barrett

 
Related Links

· More about
· News by Mike Barrett


Most read story about :
TomTom Announce Navigator for Smartphone, Symbian and Sony P900


Article Rating

Average Score: 0
Votes: 0

Please take a second and vote for this article:

Excellent
Very Good
Good
Regular
Bad


Options


 Printer Friendly Printer Friendly

 Send to a Friend Send to a Friend


Make a Donation



CamerAlert Database

Click here for the PocketGPSWorld.com Speed Camera Database

Download Speed Camera Database
22.034 (27 Mar 24)



WORLDWIDE SPEED CAMERA SPOTTERS WANTED!

Click here to submit camera positions to the PocketGPSWorld.com Speed Camera Database


12mth Subscriber memberships awarded every week for verified new camera reports!

Submit Speed Camera Locations Now


CamerAlert Apps



iOS QR Code






Android QR Code







© Terms & Privacy


GPS Shopping