Home News Business A very short innings between Nokia, MetaCarta

A very short innings between Nokia, MetaCarta

Finland: Three months after acquiring geographical search company MetaCarta, Nokia is now selling the company to Qbase Holdings LLC, a privately held US based company. Nokia will retain MetaCarta’s geographic intelligence technology, which it is incorporating in its local search and other services. MetaCarta serves primarily government as well as oil and gas customers.

Nokia bought Cambridge, Massachusetts-based MetaCarta in April and now selling the company in what could be an off-loading trend for the handset maker. Last week, Nokia said that it is selling its modem hardware business to Tokyo-based Renesas for USD 200 million but will retain an arrangement to work on R&D together, according to a report published in paidContent:UK.

In the last few years, Nokia has acquired mapping firm Gate5, Berlin’s Bit-side map provider, Navteq and travel social network Dopplr, as well as social address book firm Cellity and browser maker Novarra. And that’s just in the mapping space.

The modem business and MetaCarta are two swallows; watch for a summer…

It’s not as if Nokia is short on cash—in April, it said it had USD 12.2 billion (EUR 9.7 billion) in cash, and it is already been through some cost cuts.
Source: paidContent:UK and Nokia