The numerous reports were spot on as today Audi, BMW and Daimler have announced plans to buy Nokia's HERE digital mapping business.

The numerous reports were spot on as today Audi, BMW and Daimler have announced plans to buy Nokia's HERE digital mapping business.

Each of the three German premium marques will have an equal share in HERE which will become an independent company providing real-time maps and location-based services. We don't know the transaction price, but the rumors hinted at $3 billion even though Nokia originally wanted $4 billion. The deal will be finalized in the first quarter of next year once the relevant antitrust authorities will give their stamp of approval.

The consortium between Audi, BMW and Daimler promises it will not interfere in HERE's operational business and the management will continue to be independent and with the goal of providing an open platform available to all customers.

Speaking about this major deal, Rupert Stadler, Chairman of the Board of Management of AUDI AG said "Our environment is constantly changing. That’s why the information in digital maps has to be continually updated so that maximum utility can be offered."

Harald Krüger, Chairman of the Board of Management of BMW AG declared "HERE will play a key role in the digital revolution of mobility, combining high definition maps and data from vehicles to make travel safer and easier for everyone." 

Dieter Zetsche, Chairman of the Board of Management of Daimler AG, specified "High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of HERE, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries."

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