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Uber Attempting to Hail HERE Maps with $3B Bid

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May 8, 2015, 7:16 AM by Eric M. Zeman

Uber has submitted a bid to purchase HERE Maps from Nokia for $3 billion, reports the New York Times. The bid is one of several and may not result in a sale, cautioned the Times' unnamed sources. Uber is a ride-hailing app that connects drivers and passengers, but the company has also begun delivery services in certain cities. User's bid is said to compete with one from a consortium of German auto makers, including Audi, BMW, and Mercedes-Benz. A private equity group has also submitted a third bid for the mapping business. Dollar figures for these latter two bids have not been disclosed, and none of the companies involved commented on the Times' report. Nokia said last month that it planned to conduct a strategic review of its HERE Maps business which could result in a divestiture of the business. However, Nokia's CEO just this week warned its review may not lead to a sale at all. Nokia's HERE Maps business accounts for 80% of all in-car navigation. The unit is based in Berlin and employs some 6,000 people. Nokia acquired a Chicago-based company called Navteq in 2008 for $8 billion. It renamed Navteq under the HERE brand.

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