> Industrial News > News   Nokia Completes Takeover of Navteq   Nokia today announced the completion of the $8.1 billion acquisition of US digital map provider Navteq. The deal was approved by the EU last Wednesday. The EU concluded “the merged company would be unlikely to pursue a strategy of closing off competitors” because Tele Atlas provides sufficient competition. The deal received U.S. approval in December 2007. Comment: The biggest ever acquisition for Nokia is finally settled; Nokia hence holds an important position in digital map and automotive navigation markets. As the mobile phone market tends toward saturation, Nokia can’t get rapid profit growth only by its traditional core services, so it will set development of web-based services as its main target in the next few years. The takeover of Navteq is a key step toward this target. Nevertheless, Nokia will face rigorous challenges from Google, which deems map function as a key application of its ‘Android’ mobile platform. Almost at the same time, Google signed a five-year deal with Tele Atlas to provide maps to its Google Maps, Google Earth, and Android applications. Nokia and Google, one giant with hundreds of millions of terminals and one with advanced search and application technology, will put up a good fight. The spring of the twice-told LBS is finally approaching.   Time:2008-07-17 Source:NaviForum Shanghai News Center Relative