Market for phone based navigation shows continued growth – Nokia acquires Gate5

On the 31st of August 2006 it was announced through a press release from navigation company Gate5 that Nokia has agreed to acquire Gate5. According to the information published the primary objective with the initiative is to speed up the penetration of navigation solutions in the mobile handset market. Another objective, according to the press release, has been to put the Gate5 On-board navigation solution on the NSeries phones of Nokia. Wayfinder cooperates with Nokia since 3 years in the area of Off-board Solutions and in most cases the cooperation is also includes Mobile Phone Operators. The Nokia platform will remain open and available for a continued development of navigation and related location based services. - I see that this initiative will speed up the market development for phone based navigation considerably and our cooperation with Nokia will continue as planned, says Magnus Nilsson, CEO of Wayfinder Systems AB