Nokia today formally announced the sale of its HERE Maps business unit to a consortium of three German auto makers. Audi, BMW, and Daimler have agreed to buy HERE Maps for $3 billion.
Nokia has been shopping the business unit since April, soon after it announced plans to acquire Alcatel-Lucent. The three car makers will act as investors in HERE, as well as customers of the mapping business and suppliers of data.
Nokia said HERE-branded mobile apps will continue to be available to Android, iOS, and Windows devices. Nokia expects to complete the sale during the first half of 2016.
Once finalized, Nokia will have two business units: its telecommunications equipment unit and its technology unit.
