Nokia acquires 3D street-level imaging specialist Nokia introduced HERE, the first location cloud to deliver the world's best maps and location experiences across multiple screens and operating systems. With the new brand, HERE, Nokia aims to inspire a new generation of location services and devices that make the mobile experience more personally significant for people everywhere. To advance the 3D capabilities of HERE, Nokia announced the planned acquisition of Berkeley, Calif. company earthmine. The company's reality capture and processing technologies will become integral parts of HERE's 3D map making capabilities. Nokia expects the transaction to close by the end of 2012.
Nokia upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Nokia to Outperform citing long-term savings potential from the merger with Alcatel-Lucent (ALU). The firm raised is price target for shares to EU9 from EU7. It also upgraded Alcatel-Lucent to Outperform.