Nokia buy Navteq for $8.1bn

Link: BBC NEWS | Business | Nokia to buy digital map company

The BBC are reporting that Nokia has agreed to buy digital mapping company Navteq for $8.1bn – about $4.0bn. However, there’s concern that the price offered is too high.

Richard Windsor from Nomura is quoted as saying: “It is very expensive; the stock is currently about 50 times the forward earnings, which is fairly pricey”.

The deal – at about 34% above Navteq’s share price a month ago – has been approved by both companies boards but still needs regulatory and shareholder sign-off.

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This entry was posted by Alex on October 1, 2007 at 4:57 pm, and is filed under Uncategorized. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site.

Sramana Mitra

I have been covering Navteq for a while. Here is my analysis:
http://sramanamitra.com/2007/1.....comes-key/

This is an excellent move on Nokia’s part. Note, there is no other indepdendent GIS data vendor in the market.

Regards, Sramana

Nokia buy Navteq for $8.1bn

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