Germany’s biggest automakers, including BMW AG, Audi AG and Daimler AG have successfully closed a deal to acquire Nokia’s digital mapping business for €2.8 billion. As per market analysts, the automakers were at the fore-front to acquire an important technology meant for self-driving cars.

In 2008, Nokia bought the mapping service known as Navteq, which has now been sold. Last year, Nokia sold its mobile handset business to Microsoft Corporation. Talking about the deal, Nokia stated that it will need proceeds of around €2.5 billion with the buyers taking on €300 million in Nokia Here debt. As per Nokia, the company will gain €1 billion.

Experts shared that such maps would become a need for future self-driving cars, as they need time to time updates of vehicle’s surroundings. In April, Nokia announced that it has plans to purchase the high-precision digital maps. It also announced that it would be focusing on telecom equipment. After the announcement, the German car makers entered the bid.

The car makers even feared that there were chances that the deal could be sealed by Google Inc., Uber Technologies Inc. or Apple Inc. If this would have happened then the auto makers would not have been able to have control of information systems inside the car, required to self-drive the vehicles.

“The acquisition is intended to secure the long-term availability of Here’s products and services as an open, independent and value-creating platform for cloud-based maps and other mobility services accessible to all customers from the automotive industry and other sectors”, affirmed BMW, Audi and Daimler.