Uber ready to pay $3 billion for Nokia’s Mapping Service HERE
Ridesharing service provider Uber is planning to snap up Nokia's Mapping Service HERE for $3 billion, according to a report published in the New York Times referring to information provided by three anonymous sources. Nokia's mapping service has many unique features and it is considered as a major competitor to Google' mapping solution.
In the past, three German automakers, BMW, Audi, and Daimler's Mercedes-Benz, have joined together to make a bid for the service with the Chinese search engine Baidu.
While Nokia has not been able to monetize its mapping service 'HERE', it still includes lot of advanced features. A WSJ report has termed HERE as the most advanced digital mapping service in the world.
Nokia has invested several hundreds of millions of dollars into mapping software in order to keep it as up-to-date as possible year after year. Developing a reliable mapping service is time-intensive and expensive, and Nokia has generated a valuable archive of resources for data companies and self-driving cars.
Uber currently relies on a combination of its own mapping data and Google Maps, the latter of which it depends on more heavily. Uber might be looking at having its independent solution for mapping and reduce its reliance on Google.
Acquiring HERE would not only give Uber the opportunity to free itself from Google's mapping licenses, but will also assist in its expanding cab sharing service uberPOOL.
If Uber manages to acquire HERE, it can use geospatial-mapping data to pair riders with drivers, obtaining HERE would be like hitting the jackpot, they said.
Jamie Moss, an analyst at the technology research company Ovum in London, told NYT, "It's extraordinarily difficult to get this type of mapping data. Other than Google, HERE is one of the few companies that can offer this data right now".
After facing regulatory issues, Uber has managed to improve its service. The company has also reported increase in the number of users for its services and apps.
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