German car manufacturers have joined forces to buy the division of Nokia that supplies data for the majority of in-car satellite navigation systems, it has been revealed today.
A consortium of BMW, Audi and Daimler is paying 2.8 billion euros (around £1.9bn) for HERE, which has a stand-alone app for smartphones but makes the majority of its revenue from providing up-to-date data that can drive manufacturers’ own systems. Nokia has previously claimed that around 80% of new-car infotainment systems feature HERE data in their navigation software. The firm has maps for almost 200 countries and live traffic information for 33 countries.
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