Nokia Buys Navteq

Nokia is buying the navigation Software maker, Navteq Corp., for a reported $8.1 billion. The announcement was made by Nokia on October 1, 2007. The offer equated to a stock price of $78 a share, which would mean that Nokia is buying the company at 32 times EBITDA (earnings before interest, taxes, depreciation and amortization). In March 2008 the European Commission opened up a probe of Nokia's planned acquisition looking into potential competition threats.

Nokia Fast Facts

1. Stock symbol: NOK, NYSE
2. Total Revenue (2007): $51.058 billion euros
3. Earnings (2007): $7.205 billion euros
4. Sales in more than 150 different countries
5. Jorma Ollila Chairman of the Board

NAVTEQ Corporation Fast Facts

1. Stock symbol: NVT, NYSE
2. Total Revenue (2007): $853.39 million dollars
3. Earnings (2007): $172.95 million
4. Christopher B. Galvin, Chairman of the Board
5. NAVTEQ provides digital mapping and real-time traffic information

Categories