Uber bids $3 billion for Nokia’s HERE maps service

Barely a month after Nokia announced its intent to sell HERE, its map business, popular cab-hiring service Uber has submitted a bid for the same.

However, to clinch the deal worth USD 3 billion, Uber needs to fight off competition from a powerful consortium of BMW, Audi and Mercedes-Benz who have teamed up with Chinese search engine Baidu to clinch the deal.

The bidding process is not expected to take too long, with reports suggesting that Nokia could announce the winner by the end of May. However, some reports suggest that there may be more bidders in the fray.

HERE has been a successful venture by Nokia in the online maps market and offers high definition maps combined with cloud technology for both businesses and individual users.

If it does clinch the deal, Uber is expected to use the HERE maps service to ensure a more efficient distribution of its cabs based on population density and other factors.

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