Uber reportedly loses out on bid to buy Nokia's HERE mapping business

Uber has lost out on its bid to acquire Nokia's HERE mapping business, according to a New York Times report. The ride-sharing start-up had offered $3 billion.

As per the report, the unit might be sold to a consortium of German auto-makers, something which is in-line with what Bloomberg reported last month. However, negotiations are ongoing and a deal is not yet confirmed - Nokia is expecting at least $4 billion, while the auto-makers are looking to acquire the unit for less.

The report also notes that there is a possibility that Uber, which acquired San Jose-based mapping technology start-up deCarta back in March this year, could jump back in.

Via