Facebook among 3 companies interested in buying Nokia’s mapping business: Reuters
Nokia recently revealed that it was currently reviewing its mapping business and may consider a sale. Reuters now reports that there may be as many as four companies interested in buying HERE.
The publication cites a German magazine, which claims that potential suitors include Facebook, a consortium of carmakers including BMW, Audi and Daimler, as well as a US private equity firm Hellman & Friedman. Additionally, the magazine also adds weight to earlier reports about Uber being interested in Nokia’s mapping business.
The magazine values Nokia’s HERE business at around $2.15 billion. Others however are a bit more bullish about the business, and Inderes Equity Research in particular values HERE at $4.4 billion.
Earlier this month, Nokia confirmed that it was buying telecoms equipment company Alcatel-Lucent for €15.6 billion ($16.6 billion). Alongside the announcement, Nokia also revealed that it had initiated a strategic review of its HERE business. While this could include a potential divestment, the company has said that “it may or may not result in any transaction.”
Nokia built its mapping business on the back of an acquisition of US-based Navteq for a whopping $8.1 billion in 2008. Post the sale of its handset division, HERE is one of the three businesses left with Nokia — the other two are the network business and an R&D unit which licenses all its patents.