Nokia to Pay $8.1 Billion for Navteq

In an effort to capitalize on the hotly anticipatedbut unprovedmarket for mobile search, the Finnish handset maker inks a deal for the digital mapmaker

Nokia's agreement to buy Chicago-based Navteq for $8.1 billion—the handset maker's biggest acquisition to date—shows just how determined the Finnish company is to dominate the evolving business of mobile search. In fact, Nokia (NOK) may even be betting that it can become the mobile equivalent of Google (GOOG), as customers increasingly use its Internet-enabled handsets to look for help getting from one place to another as well as for information about what's available along the way.

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