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One of the start-ups that survived the boom and bust, Berlin based navigation software provider Gate5 AG, announced today that it is being acquired by Nokia. I remember Gate5’s management team being on the cover of a major German magazine after winning a business plan competition during the boom…but of course they got hit by the bust. However, they stuck it out, did a management buy out in 2002, and raised new capital following the buy-out. Hopefully they were appropriately rewarded with this deal, the terms of which were not disclosed. Congratulations to them for not having given up!