Networking gear powerhouse Nokia announced it is considering selling its mapping/navigation unit Here. Facebook is reportedly a potential buyer as the social media company signed a deal with Nokia to use Here maps in the mobile version of the app.
TechCrunch reports other potential buyers include Apple, Samsung, Uber, Baidu, Alibaba, Tencent and Yahoo.
Nokia confirmed last month that it is exploring a sale of Here, which came at the same time as the announcement of a $16.5 billion merger with Alcatel-Lucent.
“The board of directors of Nokia believes this is the right moment to assess the position of Here within the proposed new Nokia business,” the company noted in a statement. “The strategic review of Here is ongoing and it may or may not result in any transaction. Any further announcements about Here will be made as appropriate.”
Neither Facebook nor Here made any sort of public announcement regarding the deal, but both outfits confirmed the agreement.
A Facebook representative said, “We are testing Nokia Here maps across Facebook to give us more control and flexibility in delivering a consistent maps experience. I can confirm that we’re testing Here maps in Android versions of some of our standalone apps like Instagram and Messenger as well.”
Similarly, a Here representative said, “We’re excited that our maps can be enjoyed by Facebook users.”
Estimates have pegged the value of Here at between $2 billion and $4 billion.
The Nokia/Alcatel-Lucent deal is governed by a memorandum of understanding between the two companies and considers an all-share transaction. Nokia would offer in France and the U.S. .55 of a Nokia share for every Alcatel-Lucent share based on an $8.26 April 13 closing share price.
Both companies’ boards of directors have approved terms of the proposed transaction and the deal is expected to close as soon as the first half of 2016.
Rajeev Suri would continue as CEO of the new company.
