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German auto makers agree deal to buy Nokia HERE

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The consortium of Daimler, BMW and Audi has agreed to pay close to 2.9 billion euros ($3.2 billion), for Nokia HERE.

The sources said the deal was likely to be announced on Monday.

Intelligent mapping systems are the basis on which self-driving cars linked to wireless networks can perform intelligent functions such as recalculating a route if data about a traffic jam or an accident is transmitted to the car.

Daimler, BMW and Audi want to become service providers as a way to own customer relationships which may otherwise migrate to new transport businesses created by high-tech rivals such as Google or Apple.


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