Nokia to Buy Navteq?

In late-breaking actual honest-to-goodness Nokia news, the Wall Street Journal reported that the phone manufacturer is currently in talks to purchase mapping company Navteq.

Navteq provides digital maps and content for use in software applications (Nokia Maps, Microsoft Flight Simulator) and web sites (Google and Yahoo maps to name a few). The company is valued at $7.61 billion dollars.

Tele-Atlas, Navteq’s chief (and only) competitor, was recently acquired by TomTom, a navigation software company, for the paltry sum of 2 billion euros.

Nokia in talks to acquire Navteq: report - Reuters

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