NAVTEQ, provider of digital map data
for location-based solutions and vehicle navigation, announced today
that Nokia has received unconditional approval from the European
Commission for its planned acquisition of NAVTEQ. With this, Nokia now
has received all approvals for the purchase. The parties expect to
close the deal within the next five business days.
"We welcome this news. NAVTEQ will play a key role in our Internet
services strategy with world-leading maps and navigation industry
expertise, a strong customer base and industry-leading map data and
technology platform offering the broadest geographical coverage," said
Olli-Pekka Kallasvuo, President and CEO, Nokia.
"We are pleased that the Commission has reached the same conclusion
we have regarding NAVTEQ's ability to continue providing broad access
to all our customers," said Judson Green, President and CEO, NAVTEQ.
"We believe NAVTEQ will be better positioned to serve all our customers
under Nokia ownership."