Nokia's mapping product Here has been a hot commodity this week. Here is a significant business - it's the main rival to Google Maps, in terms of mapping units - and would be a boon to Uber.
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Uber has offered as much as $3 billion for the mapping company. Uber's offer will compete with others coming from the Mercedes-Audi-BMW-Baidu team and one from a private equity firm that is interested in the company. The sources are saying that right now, only Uber and the private equity firm have actually submitted bids.
Nokia is expected to announce the sale of HERE at the end of this month. HERE had revenue of $1.1 billion last year and employs 6000 people. It makes 3 million daily adjustments in a bid to remain accurate.
Jamie Moss, an analyst at London based tech research firm Ovum said, "It's extraordinarily difficult to get this type of mapping data. Other than Google, Here is one of the few companies that can offer this data right now."
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Currently, Uber relies on Google Maps technology for its mapping. But buying Here would allow the company to have its own mapping software and data, which would help Uber's central driving business, but also its other logistics-related endeavors, including UberFresh, its food delivery service, and UberPool, its carpooling service.