vivaoporto writes: Nokia announced an agreement to sell its HERE digital mapping and location services business to a consortium of leading automotive companies, comprising AUDI AG, BMW Group and Daimler AG (Mercedes brand owner). The transaction values HERE at €2.8 billion ($3.2 billion) with a normalized level of working capital, and is expected to close in the first quarter of 2016, subject to customary closing conditions and regulatory approvals. Once the mapping unit is sold, Nokia will consist of two businesses: Nokia Networks and Nokia Technologies. The first will continue to provide broadband services and infrastructure while the second will work on "advanced technology development and licensing." Reader jppiiroinen notes that Nokia originally acquired digital mapping provider Navteq in 2007 for $8.1 billion. Once it merged with Nokia, it became the foundation of Nokia's HERE unit.
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