Navteq Closer to Nokia Takeout

The mapmaker's shareholders approved Nokia's $8.1 billion deal.
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Setting a new course,

Navteq

(NVT) - Get Report

shareholders approved

Nokia's

(NOK) - Get Report

$8.1 billion buyout plan.

Stakeholders of Navteq, the top mapping service, voiced no objections to the all-cash deal. The move plots the Finnish phone giant squarely in the middle of the GPS navigation business, which encroaches on the mapping device dominance of rival

Garmin

(GRMN) - Get Report

.

Last month, while the Nokia deal was pending, Garmin managed to renew a supply contract with its map vendor Navteq until 2015, with the option to go to 2019.

Nokia's move launched a bidding war between Garmin and

TomTom

for the No.2 map maker

Tele Atlas

. Garmin later backed out.

Navteq shares rose 4 cents to $74.64 and Nokia was up 73 cents to $39.74 Wednesday.