Finnish telecoms groups Nokia is selling its mapping service Here to German car makers BMW, Audi and Mercedes-Benz for 2.8 billion euros ($3 billion), it said Monday.

The sale "should be concluded in the first quarter of 2016", Nokia said in a statement, claiming that it will bring it a profit of 2.5 billion euros. The three German car makers will hold equal shares in Here, they said in a separate statement.