It's final: Nokia concludes Navteq purchase

Nokia has completed its purchase of Navteq, a digital map information provider.

As part of Nokia, Navteq will continue to develop its expertise in the navigation industry, service its customers, and invest in the further development of its industry-leading map data and technology platform. It will continue to build out and expand coverage of countries already included in its database as well as add new pieces of both static and dynamic content.

Powered by Navteq's maps data, Nokia will redefine the Internet and connected experiences by adding context—time, place, people— to Web services optimized for mobility.

"Nokia and Navteq together make a powerful combination, and customers will benefit as the transaction enables Navteq to accelerate its expansion into new regions and introduce innovative new content. This is an industry poised for further growth and Navteq will play a major role in the field," said Olli-Pekka Kallasvuo, president and CEO, Nokia. "The addition of Navteq comes at the right time for Nokia's business, allowing us to create the leading location platform just as context-aware and location-based Internet services expand rapidly into mobile communications devices."