Finnish giant pays $8.1 billion for sat nav mapping and software specialist.
Nokia's drive towards internet services continues apace with the addition of Navteq to its GPS and mapping armoury.The Chicago-based company's technology will be folded into the existing Nokia Maps solution, which is spearheaded in the market by the GPS-enabled N95 Nseries device.
Nokia has been on an acquisition spree in recent weeks as it seeks to transform itself into a content and services provider in both D2C and B2B channels - last week it acquired mobile marketing and advertising specialist Enpocket.
Olli-Pekka Kallasvuo, Nokia's CEO, said: "Location based services are one of the cornerstones of Nokia's Internet services strategy. The acquisition of Navteq is another step toward Nokia becoming a leading player in this space."
Nokia has confirmed that Navteq will continue to provide its software to third party navigation hardware manufacturers.
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