According to Bloomberg, Nokia Corporation is putting up its maps unit for sale and is in talks with potential buyers. Re/code believes the list of potential buyers could include big tech companies including Apple Inc.
Previously known as “Nokia Maps,” Nokia’s mapping unit “HERE” is a business worth $2.1 billion, as per the company’s financial reports. It mainly relies on its cloud computing as its core technology. The business also provides data to other mapping providers including Facebook Inc, Yahoo Maps, Amazon.com, Inc and Microsoft.
While the company is up for improving its debt rating and has even spoken to Uber Technologies Inc. in this regard, no deal has been made yet. The company is expecting bids as soon as this month.
Apple could consider buying the business, given its need for better mapping data and also based on its entrance in the auto industry. Re/code also believes the business could be bought out by a group of buyers. Microsoft could also be another potential buyer, given that it has already acquired the company’s phone business. Acquisition of HERE could provide the needed synergy between its existing businesses.
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