Audi, BMW, Daimler Close on Nokia's Mapping Business

HERE is involved primarily in highly accurate road maps. The technology is found in four out of every five new cars sold in North America and Europe and forms the backbone of many navigation systems. Additionally, the accuracy of the maps will allow automakers to continue developing location-based services and autonomous vehicles, which can properly function only if the vehicle knows precisely (not generally) where it is.

Audi, BMW, and Daimler have banded together to acquire the enterprise for a reported $2.7 billion. But instead of keeping it to themselves, the automakers plan to operate openly and independently. As much as the automakers stand to benefit from having secured their access to the technologies, so does HERE stand to gain from its new patrons. Between them, these three automakers are said to have over 2 million connected vehicles on the road, each of which is capable, according to the joint statement, "of collecting advanced high quality location based data [and] already today offer enormous potential to accelerate the development of HERE's location platform."