Bidding intensifies for Nokia's Here maps as Uber offers $3B
Whether or not Apple is still in the running to buy Nokia's Here, the digital mapping service will likely sell for more than $3 billion thanks to a bid made by transportation service Uber.
Uber has officially submitted its $3 billion offer for Nokia Here, sources familiar with the process reportedly indicated to The New York Times. The bid from Uber is said to be competing with one from a consortium made up of BMW, Audi, Mercedes-Benz, and Baidu.
Not mentioned in the story is whether Apple is in the running. It was reported last month that Nokia was courting Apple in an effort to earn $3.2 billion for the sale of Here.
If Apple were to buy Nokia's Here for that asking price, it would be the largest acquisition in the company's history, eclipsing the $3 billion it spent on Beats last year.
The Here maps business has been a bright spot for Nokia as the company has struggled during its attempts to restructure as a networking company. Last quarter, the Here mapping division saw its profits increase by 20 percent to 162 million euros.
Others said to have shown interest in Nokia Here are Facebook and Microsoft. The Nokia maps business has more than 80 percent market share among vehicle built-in navigation systems.