Nokia had revealed plans to sell its HERE Maps business, and companies, including Uber, were reportedly interested. But according to the New York Times, Uber is now out of running after having submitted a bid of around $3 billion. Also Read - Uber cab service resumed in 31 cities in India with new Lockdown 4.0 guidelinesAlso Read - Uber launches 'Uber Connect' package delivery service to rival Dunzo and Swiggy Genie
The publication cites sources claiming that Uber has lost out to a consortium of German carmakers including BMW, Mercedes-Benz and Audi. Despite the massive bid, Nokia seems to prefer the carmakers, which have long used Nokia’s mapping technology in their vehicles’ onboard navigation systems. Also Read - Uber to operate 'Essential' cab service to hospitals and pharmacy stores in 4 cities
It isn t just Uber either, and the publication claims that other companies like Baidu and Tencent too were believed to have shown interest in the buyout. But in what seems like strong lobbying by the carmakers, even the Chinese companies have dropped out of the race.
Buying HERE would have helped Uber lessen its dependence on Google Maps and own the technology that would help it serve its passengers better. In the current scenario, Re/code lists out some potential options including buying HERE rival TomTom, license HERE data from the eventual buyers, as well as build its own technology with the help Bing mapping assets it bought off Microsoft.