Nokia + Navteq: Done Deal, TomTom + Tele Atlas: Not
Today, shareholders of digital mapping provider Navteq approved the buyout of the company to Nokia in an $8.1 billion dollar transaction. The deal is expected to fully close in a couple of weeks.
This despite comments made by Nokia CFO Rick Simonson:
"I have told them: you must grow that business with all those other customers. Nokia will take care of itself, but you must grow with the other customers. That's what we paid for. I want it faster, and I want more," Simonson said.
Wow. Just...wow.
Meanwhile, closer to the Finnish company's home, TomTom and Tele Atlas (the "other" map provider) are still stuck waiting it out as European Commission regulators argue whether TomTom's acquisition of Tele Atlas is fair or anti-competitive. It might be important to note that this is "phase 2" of the investigation, and the Commission has 90 days to reach some sort of decision on the matter.
Nokia wants faster growth from Navteq - Reuters
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