Nokia Bets on Local, Acquires NAVTEQ

(via eWeek and Reuters)

Nokia said on Oct. 1 it will offer $8.1 billion for U.S.-based digital map supplier Navteq in one of its largest takeovers ever, but its shares fell as analysts dubbed the deal “expensive.” The acquisition would give the world’s top cellphone maker—which is looking for new revenue sources as the cellphone industry matures—a stronghold in the navigation business, one of the fastest-growing segments in the technology industry.

What it means: in a deal that underlines the importance of mobile in the local space (and vice-versa!), Nokia makes its biggest bet so far and buys an important piece of the local search ecosystem. I think it confirms some of the things I was writing about last week in my When will Mobile Become the Next Big Thing? post.


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