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A number of other big tech companies were also apparently interested, and Facebook's switch to Here maps back in May set some tongues wagging. However it seems the German vehicle giants were identified to have Here all to themselves. Why was Nokia's Here such a searched for home? And why did Nokia desire to sell? Here's a quick wrap-up of how Here happened.

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Nokia became involved in a 3D maps consortium called Tell, Maris, obtaining the underlying software application outright in 2006.  View Details  made an existing mobile app called Smart2Go readily available totally free download on Nokia and Windows Mobile devices. Fast forward to 2007, when Nokia acquired NAVTEQ for $8 billion. NAVTEQ was a company of digital map data for automobile navigation systems, cellphones, and other platforms.

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A handful of smaller acquisitions later on, Nokia rebranded what had actually been understood as Ovi Maps as Nokia Maps in 2011, before changing the name yet again to Here the list below year. While Nokia has actually just recently embraced other mobile platforms, with the launch of its GPS navigation app on both Android and i, OS, its huge appeal for third-party business lies in the quality of the mapping innovation that underpins it.

And for many, Here is an even more enticing proposition than Google Maps, considered that Nokia's offering serves up complete offline access to entire nations and regions free of charge. However while this was a huge selling point for users, it's not what companies thinking about acquiring the service would have cared so much about.

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And back in December, Nokia scored a notable offer with Chinese Internet giant Baidu Maps. Nevertheless, Here has been a big gamer in the land of autos for a while, and it's stated that Nokia's mapping innovation powers around 80 percent of in-car GPS navigation systems. More than half of Here's $1 billion earnings in 2014 was produced by the car industry.

For Nokia, the offer is all about tidying up, consolidating, and restructuring. The company is a various monster from what it was when it obtained NAVTEQ 8 years earlier. It was clear that Here was becoming an increasingly odd fit for the company. Also, according to Nokia's most current Q2 financials, Here represented less than 10 percent of profits, with just a small operating profit to show for it.