Oh my God, what it is to have a cheque book big enough to fit two numbers and eight zeros. That’s what Nokia’s doing, in its acquisition of Navteq which is one of two global mapping and geographical data suppliers.

That statement doesn’t mean much to us either, so lets us explain. There are two companies on this planet that provide mapping and data info for sat nav devices. Navteq is one, TeleAtlas is the other. Started in 1985, Navteq has become a real industry leader, gathering mapping information around the world and making it available through a wide range of third-party sat nav devices. Its database of info is out of this world and given that Nokia will soon have open access to it, we reckon it’s fair to say it’s only a matter of time before we see a slew of new sat nav packing devices from the boys in Finland.

Of course, there’s also the size of the deal. Although still to be signed and sealed, the deal means Nokia will hand over $78 a share for Navteq, totaling about $8,100,000,000. That’s a wedge and a half. It goes to show how serious Nokia is about location-based services though. The sky’s the limit in terms of what the Finns could do with that lot. We haven’t even scratched the surface yet.

This calls for a compo. Free NokNok T-shirt to the best suggestion as to what Nokia could do with all that mapping info. Ideas on an electronic postcard to . We’ll post the best ones here and send a t-shirt to the winner. Usual compo rules apply.