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Nokia acquires gate5 to add robust mapping and navigation to its mobile devices
August 31, 2006
ESPOO, Finland and BERLIN -- Nokia (NYSE: NOK - News) and gate5 AG today announced that an agreement has been signed for Nokia to acquire gate5. gate5 is a leading supplier of mapping, routing and navigation software and services. By acquiring gate5, Nokia will offer consumers maps, routing, navigation and other location based applications on its mobile devices.
"Maps and navigation are natural elements to be offered in mobile devices but this area hasn't developed as fast as expected by the market. Acquiring gate5 enables Nokia to offer consumers the world-leading mobile location applications, such as maps, routing and navigation at an accelerated speed." said Anssi Vanjoki, Executive Vice President and General Manager, Multimedia, Nokia. "The Personal Navigation Device market is in a rapid growth phase with the global market size expected to reach 15 million units in 2006 compared with 8 million units in 2005. By integrating the maps and navigation capabilities into our devices, Nokia will participate in this growth. Nokia Nseries multimedia computers offer people new ways to explore their world - navigation and maps enhance this journey and add to the overall experience."
gate5 is a leading supplier of mapping, routing and navigation software and services. gate5 was founded in 1999, is privately owned, has its headquarters in Berlin, Germany and has approximately 70 employees. gate5 provides software to leading personal navigation device manufacturers around the world. gate5 solution enables people to enjoy a highly sophisticated mapping and navigation experience offering seamless navigation with breathtaking features such as house polygons, earth browsing and dynamic route guidance. All applications are extendable with more than 5,000 city guides, travel guides or services.
"Our combined expertise means that mobile device owners will enjoy a wide range of location based services," said Dr. Michael Halbherr, CEO, gate5. "Based on maps and routing functionality, there are countless useful features for mobile users; e.g. travel guides, search what is around you including restaurants, hotels, shops, etc. anything you need in your surroundings. We are excited to become part of Nokia and to be able to take the gate5 technologies and products to even wider audiences."
Nokia Corp. (NYSE: NOK)
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