Audi together with BMW and Daimler’s Mercedes-Benz have won U.S. antitrust approval to buy Nokia’s mapping business.
Approximately two months ago, the German premium trio reached an agreement with Nokia to acquire the HERE mapping business and now the three prestige automakers have been granted with U.S. antitrust approval for this major $2.8 billion deal, according to the Federal Trade Commission.
This deal was on FTC’s list of uncontroversial transactions that were granted with approval from the FTC or the Justice Department as the two agencies currently share the work of antitrust enforcement. As a reminder, the three German car manufacturers will all have an equal share in HERE, a direct competitor for Google Maps as well as TomTom.
HERE came to life Nokia bought Navteq back in 2008 for $8.1 billion and in the future it will enable Audi, BMW and Mercedes-Benz to implement new premium features in their products such as technology related to autonomous driving which we all know will become a thing in the years to come, like it or not.
The deal between Nokia and the three automakers is expected to be finalized in the first quarter of next year after all the necessary paperwork will be sorted out.