Digital mapmaker Navteq Corp shareholders have finally approved the firm’s acquisition by mobile phone giants Nokia by a staggering majority on Wednesday at a meeting. This in fact means that this should clear a path for the $8.1 billion transaction to close pretty soon.
Navteq Corp who produce maps and software which can be found in satellite navigation systems and portable navigation devices plus Internet map sites, plus Nokia have the purchase of the company which reflects the interest in using much more navigation software in their mobile phones and other products.
Nokia shares have doubled since February with an increase of 54 cents to $39.55 and Navteq shares have risen from 11 cents to close at $74.49 a share Wednesday.
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