Uber Has Apparently Teamed Up With Baidu To Buy Nokia’s HERE DivisionMay 19, 2015 2015-05-19 7:28
Uber Has Apparently Teamed Up With Baidu To Buy Nokia’s HERE Division
Ride hailing company Uber has apparently tied up with Chinese Internet services giant Baidu and Apax Partners to pursue Nokia’s Here, as the bidding war for the unit intensifies.
Here, considered to be the top automotive mapping service in the world, could fetch as much as $4 billion according to industry insiders, far higher than the apparent $3 bn bid Uber made.
Baidu announced its investment in Uber last December and integrated ‘Ride With Uber’ buttons into its mobile search and maps apps. The move was in-line with Uber’s plans to grow its presence in the Asia-Pacific region.
All companies, including Microsoft, that are part of the bidding process have declined to comment, but it’s clear that demand for Here is high which is causing the price to go up.
Apparently, Baidu is partnering with SF-based Uber in order to avoid regulatory scrutiny for buying Nokia’s Here mapping division.
There are quite a few high-profile buyers for Here – Microsoft has offered to buy a minority stake, German automakers Audi, Mercedes and BMW are interested, Tencent Holdings, and a number of Private Equity firms are part of the bidding.