Nokia sells MetaCarta 3 months after acquisition

By siliconindia   |   Tuesday, 13 July 2010, 15:00 IST   |    1 Comments
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Bangalore: Nokia has sold MetaCarta, a location-based search service it acquired just three months ago. The buyer is Qbase Holdings, a privately held and U.S. based company. Nokia will keep MetaCarta's geographic intelligence technology and use it in its local search and portable devices. MetaCarta's primary customer base includes oil and gas customers. It employs more than 30 workers. Financial terms were not disclosed. Some speculate this move may have been made to help Nokia meet its revenue targets after the company warned of a low second quarter outlook. It expects to sell fewer phones and at a lower margin and could use the sale to trim costs or other expenses.