Deals

Uber Joins Baidu as Nokia’s Maps Unit Draws Multiple Bidders

HERE software, the connected driving maps unit of Nokia Oyj.
Photographer: Krisztian Bocsi/Bloomberg

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By Alex Sherman, Kiel Porter and Lulu Yilun Chen

May 18, 2015 at 4:29 PM UTC

Updated on

May 19, 2015 at 8:28 AM UTC

This article is for subscribers only.

Uber Technologies Inc. is teaming up with Baidu Technologies Inc. and Apax Partners to pursue Nokia Oyj’s maps business, people with knowledge of the matter said, as a bidding war for the unit intensifies.

Another group, comprising China’s Tencent Holdings Ltd., NavInfo Co. and Swedish buyout firm EQT Partners AB, is also bidding for the unit, which may fetch as much as $4 billion, three of the people said, asking not to be identified because negotiations are private.