Nokia buy Navteq for $8.1bn
Link: BBC NEWS | Business | Nokia to buy digital map company
The BBC are reporting that Nokia has agreed to buy digital mapping company Navteq for $8.1bn - about $4.0bn. However, there’s concern that the price offered is too high.
Richard Windsor from Nomura is quoted as saying: “It is very expensive; the stock is currently about 50 times the forward earnings, which is fairly pricey”.
The deal - at about 34% above Navteq’s share price a month ago - has been approved by both companies boards but still needs regulatory and shareholder sign-off.
I have been covering Navteq for a while. Here is my analysis:
http://sramanamitra.com/2007/1…..comes-key/
This is an excellent move on Nokia’s part. Note, there is no other indepdendent GIS data vendor in the market.
Regards, Sramana
Posted by Sramana Mitra on October 1st, 2007 at 5:25 pm.