Nokia to buy Navteq for $8.1 billion
 

*Source: Yahoo (http://news.yahoo.com/s/ap/20071001/...QAGQAjtBAF )*
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STOCKHOLM, Finland - Nokia Corp. is buying U.S. navigation-software maker Navteq Corp. for around $8.1 billion as the world's largest mobile phone maker continues to expand services and content.

Under the agreement approved by the boards of both companies, Nokia will pay $78 in cash for each Navteq share, including outstanding options, Nokia said Monday.

Chicago-based Navteq maintains digital maps which it licenses to global positioning systems and Web sites. Founded in 1985, it has around 3,000 employees in 168 offices in 30 countries.

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