Bosch to acquire 5% indirect ownership stake in Here Technologies

Bosch is acquiring a 5% ownership stake from Here Technologies’ (Here) indirect shareholders Audi AG, BMW Group and Daimler AG to help boost its services business. The deal also assists Here in its goal of becoming a global provider of data-based real-time location services to clients within and outside of the automotive industry. It is expected to be concluded by the end of the first quarter of 2018. Both parties have agreed not to disclose the purchase price of the acquisition which is still subject to a
January 8, 2018 Read time: 2 mins

311 Bosch is acquiring a 5% ownership stake from Here Technologies’ (7643 Here) indirect shareholders Audi AG, BMW Group and Daimler AG to help boost its services business. The deal also assists Here in its goal of becoming a global provider of data-based real-time location services to clients within and outside of the automotive industry. It is expected to be concluded by the end of the first quarter of 2018.

Both parties have agreed not to disclose the purchase price of the acquisition which is still subject to approval by the antitrust authorities.

Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH, said “Bosch is more than cars. Industry 4.0, smart homes, and smart cities are rapidly growing areas of business for us, in which establishing and expanding data-based services will result in synergies with Here.”

Edzard Overbeek, CEO of Here, added: “We are delighted to have brought on board a strong partner like Bosch, with its broad-based expertise in both the automotive and Internet of Things sectors. Bosch’s strong presence across the Americas, Asia and Europe also offers Here attractive opportunities to further grow our business globally.”

Location Based Systems

For more information on companies in this article

Related Content

  • Bosch trials park and ride app with city of Stuttgart
    December 15, 2015
    Verband Region Stuttgart (Stuttgart regional association) and Robert Bosch are to launch an pilot active parking lot management project to provide drivers with real time parking information via an app or online. Fifteen park and ride facilities to be equipped with Bosch occupancy sensors to identify unoccupied parking spaces on a minute-by-minute basis and communicate this information in real time via the VVS Transit and Tariff Association Stuttgart app and website. Eleven cities and communities in the
    Read More
  • Here’s why WiM is value for money
    January 23, 2025
    Weigh in Motion systems are not new. What is new is their ability to collect more data and – importantly – more accurate data about axle loading and vehicle weight. Despite the obvious benefits, including safer highways and possibility of automated legal weight enforcement, obstacles remain for faster uptake. David Arminas reports on the manufacturers’ perspective…
    Read More
  • Lidar: beginning to see the light
    March 14, 2022
    Lidar feels like a technology whose time has come – but why now? Adam Hill talks to manufacturers, vendors and system integrators in the sector to assess the state of play and to find out what comes next
    Read More
  • New Mersey crossing ends Halton’s congestion misery
    December 5, 2017
    Plagued by intolerable congestion but denied government funding for its solution, tiny Halton Borough Council relentlessly pursued its vision and achieved what many believed impossible. Halton may be a small local authority in north west England, but it had a big traffic problem. However, as the road, or more particularly the bridge, involved was not deemed a strategic route, central government would not commission or even fund a solution - a problem that many other local authorities will recognise.
    Read More

Highlighted Content