The European Commission, after the lengthy investigation, has approved the acquisition of Navteq, so that can officially become Nokia's property. According to Nokia's announcement the process of the acquisition will come to an end in 5 working days. The acquisition of one of the world's largest digital map company, Navteq, is a crucial step for Nokia's new internet-based services. Olli-Pekka Kallasvuo, CEO of Nokia, has welcomed the decision of the European Commission, which now makes Nokia own not only the highly advanced digital maps and the related databases, but also Navteq's clients, whose support will remain a top priority task for the company. Chicago-based Navteq's (estd. 1985) maps are used in portable and car navigation systems as well as in internet-based solutions and business or governmental purposes. Traffic.com is one of the company's sites, providing realtime traffic data, thus enhancing route planning. The company, having 3000 employees, had a 582 million dollar profit in 2006.
Translated by Szaszati
