Uber Isn’t Getting Its Hands On Nokia’s Here Mapping Division After All

Ride hailing service Uber is out of the running to acquire Nokia’s Here mapping division, possibly because the price was too high.

Here Maps Logo

The company had made a bid of as much as $3bn for Here but Nokia is apparently looking to get $4bn for it. The only known group to still be a part of the negotiations is the German carmakers consortium.

Nokia’s Here Maps power the onboard navigation and entertainment systems in Audi, BMW and Mercedes-Benz’s cars. Further, the mapping division will be of paramount importance when it comes to self-driving cars.

However, with Uber, Chinese companies Tencent and Baidu, and multiple private equity players now out of the bidding process, the German carmakers have increasingly taken a tough negotiation position with Nokia.

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