Nokia agreed to buy German navigation software maker gate5. The deal gives the handset maker the ability to offer maps on mobile devices. Financial terms for the deal weren't disclosed. We've seen MapQuest become one of the top revenue-generating downloads so it's only natural that Nokia wants to capture a piece of that market. Nokia says it expects the market for personal navigation devices to nearly double to 15 million units in 2006, from last year.
For more about Nokia's planned acquisition of gate5:
- check out this article from BusinessWeek Online