Nokia to Buy NAVTEQ

Well looks like NAVTEQ has been bought out by Nokia for $8.1B. Hard to believe that NVT had a market cap of under $2.5B this time last year, what a difference a year makes. I guess that is why some Nokia shareholders view the deal as expensive. I wonder how hard it is to make a map this day and age anyway. This move does seem to put Garmin in a bit of a precarious situation for the moment at least, forced to buy arguably one of the most important components of their products from guys who are trying to eat your lunch day in and day out. Maybe Garmin could be looking to purchase TomTom/TA and not only get an arguably more innovative map maker but also take out their largest competitive PND threat, the company is currently valued at $6.2B euro.