After waiting for months, Audi, BMW and Daimler can now officially say that they own HERE, Nokia’s former mapping service. They paid 2.8 million euros to acquire HERE and split the stakes equally (a third each).
Nokia will receive 2.5 million euros net when the transaction is finalized in early 2016. The German manufacturers accelerated their efforts to buy HERE in order to prevent Uber from getting its hands on it.
HERE maps are used in 80% of in-car navigation systems around the world. More and more people prefer this service rather than sending personal data to Google.