Nokia, the Finnish company best known now for its mapping, networks and before the sale of their mobile business to Microsoft – their Mobile Phones, is considering the sale of its mapping business to focus more on their communications and technology networks business.
The rumours surrounding a potential sale comes as the Finnish equipment maker focuses on boosting growth at its wireless-network unit and improving its debt rating.
It is understood that Nokia has reached out to potential buyers such as Uber, which is known for its mobile car-booking application, as well as private-equity firms. It is also understood that a group of German car manufacturers have also shown interest in any potential sale of Here Maps.
Here Maps, is according to Nokia’s last financial reports to be valued at about 2 billion euros ($2.1 billion). This sum, though sounding quite high, is actually somewhat worrying. Nokia spent approximately $8.1 billion in 2008 to buy map provider Navteq Corp which formed the core heart of their Nokia Here Maps business.
Any sale of the Here Maps business could help Nokia unlock the funds needed for any future acquisitions including the long-mooted takeover of its French rival Alcatel-Lucent SA according to various analysts.
Of course these reports are just rumours at this stage, as Nokia hasn’t confirmed these reports and we will have to wait and see what will eventuate.