Navteq Shareholders Approve Nokia Takeover

Nokia announced earlier this year that it was buying out navigation overlords Navteq for approximately $8.1 billion. Not only does Navteq offer maps to most of the industry players, they also own Traffic.com, offering traffic updates for nearly anywhere online.

Nokia also acquired Gate5 a few years ago, and in the past year introduced Nokia Maps for S60 and Windows Mobile, a mapping application that offers full maps and tracking for free, with paid upgrades for voice-guided turn by turn directions and city guides. Nokia also introduced the Nokia N810 Internet Tablet recently, with a GPS receiver built-in and oddly using Wayfinder’s mapping software.

Currently Nokia offers 4 handsets with GPS receivers built-in, with plans to offer a more complete lineup in the future. With the purchase of Navteq, Nokia now controls most of the world’s navigation and mapping platforms, as well as a wealth of research and knowledge.

It will be fascinating to see how Nokia integrates this into their new push for services, in addition to handsets. Stockholders today approved the Navteq buyout, with Nokia paying $78 USD for each outstanding share of Navteq. The Navteq brand will remain intact after the merger.