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

  • Fara keeps data delivery simple
    January 25, 2018
    Simplifying the delivery of data and information gathered by traffic management, ticketing and other systems can improve travel efficiency and the traveller’s experience. Having quantified and analysed the previously unmonitored movement of road vehicles, trains, metros, cyclists and pedestrians, the ITS sector is a prime example of the digital world. Patterns discerned from those previously random happenings enable authorities to design more efficient transport systems, allow transport operators to run
    Read More
  • Trust is the key, says Cubic’s Crissy Ditmore
    August 7, 2019
    Trust is the key to encouraging people to take up shared mobility and MaaS services, thinks Cubic Transportation Systems’ Crissy Ditmore. She tells Adam Hill why sharing must be the way forward Crissy Ditmore is on the move. Director of strategy at Cubic Transportation Systems since September last year, she lives in Boise, Idaho, but doesn’t see a great deal of the city as she is “90% of the time on the road”. This is appropriate for someone whose business is working out how to get people from place to p
    Read More
  • NCS signs agreement with LTA’s MSI Global
    October 28, 2019
    Singapore-based information, communications and tech services provider NCS has agreed in principal to provide consultancy and intelligent transport solutions to overseas customers. NCS, part of the Singtel Group, signed a memorandum of understanding with MSI Global, the commercial arm of Singapore’s Land Transport Authority (LTA), under which the company will provide services such as planning, design and project maintenance for government and transit agencies in Australia, China, Hong Kong and South-east
    Read More
  • How to win over car owners to public transit
    February 16, 2021
    Public transportation agencies need to look at what private sector firms like Amazon and Netflix have offered their customers, argues Bonnie Crawford of Cubic Transportation Systems
    Read More

Highlighted Content