Nokia acquiring Navteq Corp. for USD 8.1 billion

World’s largest mobile phone maker Nokia is definitely serious about expanding their range of services for mobile devices.

The company has now announced their plans to acquire U.S. navigation-software maker Navteq Corp.

The deal is big as it would be worth around USD 8.1 billion. Nokia is paying $78 for each share of the company in cash.

Navteq specializes in providing digital maps to global positioning systems and Web sites. They are operating in 30 countries around the world.

The company added that this acquisition would help them bring context and geographical information to a number of their Internet services with accelerated time to market.

This deal would however require approval from the regulatory bodies.

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