Nokia buys Germany's gate5

Nokia has signed an agreement to acquire Germany's mobile mapping and navigation equipment producer, gate5, for an undislosed sum, an AFP report said.

"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 EVP Anssi Vanjoki, quoted by AFP, said in a statement.


Nokia forecast sales in the sector would reach 15 million units in 2006 compared with 8 million in 2005.

Founded in 1999, gate5 is a leading supplier of mapping, routing and navigation software and services in Europe. Employing more than 70 people, the company is headquartered in Berlin and runs operations in Munich, San Francisco and Hong Kong, according to the AFP report.