It seems that with bidding value for HERE soaring and touching $4 Billion now, Uber has decided to join Baidu for a joint bidding, a report from Bloomberg claims. Uber had earlier offered $3 Billion for an out and out deal that now seems didn’t find many takers.
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.
Those who are hoping that Microsoft buys HERE from Nokia may not be too happy, as Microsoft is interested in only a minority stake in HERE.
Microsoft Corp. has offered to buy a minority stake, while three U.S. private-equity firms — Hellman & Friedman, Silver Lake Management and Thoma Bravo — are also in the running, the people said.
Nokia in the meantime seems not in hurry and next round of bidding for HERE is due in two weeks. Nokia as we earlier reported may decide to sell HERE in parts or full or decide to not sell it at all.