Nokia Corp. has announced its plan to buy Chicago based Navteq Corp. for US $8.1 billion. The control over Digital mapmaker Navteq Corp. will help Nokia to offer more navigation and GPS features to their clients. The Finnish company announced the deal on Monday.

The deal is the biggest ever takeover plan of Nokia. This may lead to fresh interest in GPS device market. Consumers can expect Nokia phones with new features and better applications for global positioning systems.

The deal has been approved by the boards of directors of both companies. The deal has been marked as expensive by market analysts. The share price of Navteq has doubled in a period of 4 months. Nokia will be paying US $78 in cash for each Navteq Corp. share. The acquisition deal is expected to be completed by first quarter of next year after approval from US regulator.

Market experts were expecting Google Inc. to be running for stake in Navteq Corp. The company offers a wide range for products for GPS and data mapping markets.

With the new deal, Nokia has proved its dedication towards customer satisfaction. Nokia phones offer many features and the Finnish company has always surprised its clients with innovative products. Nokia phones are most selling all over the world. Nokia recently launched music download service for its cell phone users in order to compete with Apple Inc. Nokia phones will have an edge over the GPS devices and users will be able to get the similar features from their handsets.

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