German carmakers BMW, Audi and Mercedes can finally get their hands on Nokia’s HERE mapping firm after the Federal Trade Commission cleared the $2.8 billion deal on Wednesday, Reuters reports.
The purchase was initially announced about a month ago.
The three car companies will each hold an equal stake in HERE. By purchasing the map technology, the carmakers are able to reduce future reliance on outside tech giants like Apple (AAPL) or Google (GOOG).
The high-definition mapping technology will also allow BMW, Audi and Mercedes beef up their offerings in luxury cars and eventually help support autonomous driving in new vehicles.
