Nokia invests in Navteq deal 8 billion dollars

Navteq, ranked No. 5 on BW's 2006 Hot Growth list, is profitable and fast-growing, earning $109 million last year on sales of $582 million. But those numbers alone don't justify the purchase price, analysts say. "It's expensive," says analyst Richard Windsor of Nomura Securities in London.Chicago based Navteq is being acquired by Nokia at $8.1 billions the global player in mobile.

Many experts have called this deal an expensive one but the chief financial office Richard simon says its $600 Millions company and with Navteq Nokia shall get into business of GPS.Nokia a global Leader in handset is making niche in mobile internet a venture in which vodafone is still to make a mark.

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