Tech company makes $3 billion bid for Nokia's Here maps

Nokia had announced last month that it was considering selling the business which has prompted various buyers to make their interest known.

Nokia's Here Maps

Uber is best known for giving people the chance to book taxis through its smartphone application, but the rapidly growing company has bigger ambitions than that.

Increasingly, Uber continues to cement its place as a logistics company. The aim is to deliver people and things within cities as quickly as possible – which means relying rather heavily on Google maps.

That may soon change. Uber has submitted a bid for Finnish tech giant, Nokia’s Here maps, for as much as $3 billion. Here maps has been Google’s only major competition in the map business and anyone who manages to acquire it would be getting the second largest market share.

Nokia had announced last month that it was considering selling the business which has prompted various buyers to make their interest known.

Uber’s bid will have to compete with one already in the works from a consortium of German automakers, including Audi, BMW and Mercedes-Benz.

The automakers are also reportedly joining forces with Chinese search engine Baidu on the offer. A separate bid from an undisclosed private equity firm has also been submitted, and Nokia should announce the sale of its mapping unit by the end of May.

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