ROW Short Takes
News | 09/08/2006 4:00 am EDT
Nokia buys gate5 for mapping, navigation services
Nokia has signed an agreement to acquire gate5, a supplier of navigation software in Europe. The purchase will allow Nokia to offer 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," said Anssi Vanjoki, executive VP and GM of multimedia at Nokia, in a news release. "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 eight million units in 2005." Nokia will continue to support gate5’s existing personal navigation device customers as well as gate5’s strategy for mobile devices.
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