The deal for the big German three to acquire Nokia’s mapping service, Here, has been in play for some time now. Well, the deal has finally been finalized and Audi, BMW and Mercedes have purchased Here for 2.55 Billion Euros (around $2.8 billion). The three automakers already used Nokia’s Here service, but now owning it gives them all more flexibility in their development of software and technologies.
This marks a rare occurrence where the big Germans are actually working with each other and not against each other. Typically, these three are at each other’s throats, trying to develop new cars and technologies to beat the other out. However, in this case, the three are working together to acquire Here and aid their in-car location technology.
All three automakers have an equal share in the company and no one will have more say over Here than the other.
A few other companies were in the bidding for Here, including Uber and Baidu, but ultimately, the German automakers won out.