[OSM-talk] Nokia acquires navteq

[Nigel Magnay]

http://www.nokia.com/A4136001?newsid=1157198

*Nokia to acquire NAVTEQ*
October 01, 2007


- The combined entity would create a leading global player in the fast
growing location based services market
- NAVTEQ to support existing customers as before

Espoo, Finland - Nokia and NAVTEQ today announced a definitive agreement for
Nokia to acquire NAVTEQ.  Under the terms of the agreement, Nokia will pay
$78 in cash for each share of NAVTEQ including outstanding options for an
aggregate purchase price of approximately $8.1 billion (EUR 5.7 billion), or
approximately $7.7 billion (EUR 5.4 billion) net of NAVTEQ existing cash
balance. The acquisition has been approved by the board of directors of each
company and is subject to customary closing conditions including regulatory
approvals and NAVTEQ shareholders' approval.
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