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European Commission approves Nokia's NAVTEQ deal
02 July 2008, 10:59am
July 2, 2008 at 12.30
Espoo, Finland - Nokia announced today that it has received unconditional approval from the European Commission for its planned acquisition of NAVTEQ. Nokia has now received all approvals for the purchase, and expects to close the deal within the next 5 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."
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In previous editorials in this magazine I have touched on various SDI issues, especially now that the pan-European SDI has achieved a legally mandated status within the European Union's 27 Member States. Yet I fear that the Geographic Information community - or communities, for there are many - continue to… More…
Roger Longhorn
