https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2021 MSP 501 Application
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2021 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2021 MSP 501 Application
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2021 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Digital Service Providers
  • Cloud Service Providers
  • CHANNEL PARTNERS ONLINE
 Channel Futures

Mergers and Acquisitions


Nokia Sells HERE Mapping Business for $3B to European Auto Makers

  • Written by DH Kass 1
  • August 3, 2015
Nokia confirmed that it will sell its HERE mapping service to a group of top European automobile makers, including Audi, BMW and Daimler AG, for some $3 billion.

Nokia (NOK) confirmed that it will sell its much sought-after HERE mapping service to a group of top European automobile makers, including Audi, BMW and Daimler AG (Mercedes), for 2.8 billion euros, or $3.07 billion, in a deal that concludes months of rumors over how the Finnish device maker might deal with the unit.

Nokia said its net proceeds from the deal, which is expected to close in Q1 2016, will be about 2.5 billion euros or $2.7 billion based on subtracting some 300 million euros in what it called “defined liabilities” of the HERE operation from the deal’s final figures.

Nokia said it will report HERE as a discontinued operation beginning in Q3 2015. HERE will function as a Nokia business until the transaction closes, the company said.

HERE currently is developing a location cloud to deliver real-time, predictive and personalized location services, officials said.

In mid-April, Nokia signaled its interest in selling the HERE unit when it opened a “review of strategic options,” at the same time as it announced its $16.6 billion acquisition of French networking equipment maker Alcatel-Lucent (ALU). The HERE sale officially closes Nokia’s review process.

“I believe today’s announcement is a very good outcome for HERE, its customers and employees,” said Sean Fernback, HERE president. “The new ownership structure of HERE will allow us to accelerate our strategy, further scale our business and fulfill our intent to become the leading location cloud company across industries,” he said.

Fernback told TechCrunch that HERE would become “a much stronger company” that will remain independent and neutral — “the Switzerland of maps” — following the acquisition.

In the first half of 2015, HERE generated an operating profit of 28 million euros or $30 million, Nokia said. For the full year 2014, HERE revenue rose 6 percent to $1.06 billion as operating profit fell 35 percent to about $40 million, Nokia reported. The vendor credited HERE’s sales increase primarily to sales in the automotive market.

In Q4 2014, HERE sold map data licenses for the embedded navigation systems of 3.9 million new vehicles, compared to 3.2 million vehicles in Q4 2013, the company said.

At this point, it’s unclear what will happen with HERE’s 6,500 employees, with no word yet as to how many might be retained or laid off in the acquisition.

When the dust settles, Nokia’s operations will consist of Nokia Networks, including its Alcatel-Lucent acquisition, focused on broadband infrastructure software and services, and Nokia Technologies, concentrating on technology development and licensing.

The Nokia Technologies unit will work with OEMs to release new mobile devices next year.

Tags: MSPs Mergers and Acquisitions

Related


  • Man with storage in data center
    Data Protection Providers Arcserve, StorageCraft Agree to Merge
    The deal expands market coverage for both Arcserve and StorageCraft partners.
  • Security Operations Center SOC
    Kaseya Buying RocketCyber to Improve MSPs' Security Capabilities
    This acquisition "catapults" Kaseya even further ahead of its competition, the company's CEO said.
  • Mergers and acquisitions_M&A
    Calligo Acquires Decisive Data, Beefs Up Data Insights Services
    This is Calligo's 10th acquisition since it launched in 2012, and the fifth during the pandemic.
  • Security Merger
    Palo Alto Networks Unveils Bridgecrew Acquisition, Prisma Access 2.0
    Bridgecrew is a pioneer in shift left, focusing on infrastructure as code (IaC).

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Partners Share Their 2021 Goals—and Plans for Achieving Them
  • IBM Buys Cloud MSP Taos for Expertise in AWS, Azure, Google
  • Huntress Acquires Level Effect EDR to Beef Up Platform
  • Hornetsecurity Acquires Altaro for Expanded Security Services

Galleries

View all

From The Second City: How to Use Improv as a Business Tool

March 3, 2021

Industry Perspectives

View all

Multi-Cloud: Strategy or Inevitable Outcome? (or both?)

March 3, 2021

Backup Vulnerability: 4 Targets Hackers Might Utilize to Infiltrate Your Backup Solution

March 2, 2021

The “Roaring 20s” Are Coming

February 25, 2021

Webinars

View all

A Partner’s Perspective on Channel Success in 2021

March 23, 2021

XDR and Why it Matters to MSPs

March 24, 2021

Top Security Trends Impacting Technology Security Providers In 2021

March 25, 2021

White Papers

View all

Why Fortinet for my MSSP?

March 2, 2021

Small and Mid-Size Business Security: 4 Steps to Success

March 2, 2021

How SMBs Can Secure Endpoints and Remote Workers for the Long Haul

March 2, 2021

Upcoming Events

View all

Channel Partners Conference & Expo

November 1, 2021 - November 4, 2021

Videos and Fastchats

View all

FASTCHAT: How SOAR Eliminates Security Challenges and Elevates Service Provider Revenues

January 6, 2021

Happy Holidays from Channel Partners & Channel Futures!

December 21, 2020

FASTCHAT: How Old, Unpatched Technologies Are Creating New Security Threats for MSPs and Their Customers

December 3, 2020

Twitter

ChannelFutures

Kelly Leonard of @SecondCity talks to us about how improv can be used as a business tool to improve the company cul… twitter.com/i/web/status/1…

March 4, 2021
ChannelFutures

Another amazing day at #CPVirtual. Here's what you missed and what's on tap for Day 3. @Channel_Expo… twitter.com/i/web/status/1…

March 4, 2021
ChannelFutures

Learn how @VMWare can help you build and deliver a #multicloud strategy. #hybridcloud #cloud #AWS… twitter.com/i/web/status/1…

March 3, 2021
ChannelFutures

Learn about the merging of our media websites; plus, a new #MSP Summit this fall. @Channel_Expo… twitter.com/i/web/status/1…

March 3, 2021
ChannelFutures

.@KnowBe4 acquires @MediaPROInc to beef up #cybersecurity training. dlvr.it/RtvdpB https://t.co/FzseCn4K6A

March 3, 2021
ChannelFutures

#COVID19 is ramping up #socialengineering – time for MSSPs to step in. @Electric_AI dlvr.it/RtvRQc https://t.co/ebTJNJcOxz

March 3, 2021
ChannelFutures

.@pluribusnet launches expanded, simplified partner program. #SDN dlvr.it/RtvGtQ https://t.co/bRDqYLEhXJ

March 3, 2021
ChannelFutures

#SupplyChain agility is changing global distribution patterns and #ictservices, says @NeecoICT.… twitter.com/i/web/status/1…

March 3, 2021

MSSP Insider

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Channel Partners Online

Want more? Find more channel news and analysis on our sister site, Channel Partners.

Media Kit And Advertising

Want to reach our audience? Access our media kit

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Online
  • Channel Partners Events
  • MSP 501
  • MSSP Insider
  • IoT World Today
  • Webhostingtalk

WORKING WITH US

  • Contact
  • About us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2021 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X