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German auto makers agree deal to buy Nokia HERE - sources

A consortium of German premium carmakers has agreed a deal to buy Nokia's mapping business HERE, two people familiar with the matter said on Sunday, in a push to extend the reach of automakers into digital services for connected cars.

August 03, 2015 / 10:06 IST
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A consortium of German premium carmakers has agreed a deal to buy Nokia's mapping business HERE, two people familiar with the matter said on Sunday, in a push to extend the reach of automakers into digital services for connected cars.


The consortium of Daimler BMW and Volkswagen's premium division Audi, has agreed to pay close to 2.9 billion euros (USD 3.2 billion), one of the people said.

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The sources said the deal was likely to be announced on Monday.


Daimler declined to comment while BMW, Audi and Nokia did not immediately respond to requests for comment.