OMEN
09-02-2006, 09:51 PM
NOKIA has signed an agreement to acquire German mobile mapping and navigation equipment producer gate5 for an undislosed sum.
"Maps and navigation are natural elements to be offered in mobile devices but this area has not developed as fast as expected by the market," Nokia executive vice president Anssi Vanjoki said.
Nokia forecast sales in the sector would reach 15 million units in 2006 compared with eight million in 2005.
Founded in 1999, gate5 is a leading supplier of mapping, routing and navigation software and services in Europe. Employing over 70 people, the company is headquartered in Berlin and runs operations in Munich, San Francisco and Hong Kong.
Agence France-Presse
"Maps and navigation are natural elements to be offered in mobile devices but this area has not developed as fast as expected by the market," Nokia executive vice president Anssi Vanjoki said.
Nokia forecast sales in the sector would reach 15 million units in 2006 compared with eight million in 2005.
Founded in 1999, gate5 is a leading supplier of mapping, routing and navigation software and services in Europe. Employing over 70 people, the company is headquartered in Berlin and runs operations in Munich, San Francisco and Hong Kong.
Agence France-Presse