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

  • Connected car solutions to exceed 350 million by 2017
    May 24, 2012
    OEM and aftermarket connected car systems in use are expected to grow from 66 million in 2012 to 356 million in 2017, according to a new report from ABI Research. While OEM solutions are gaining momentum rapidly across the globe in the US, Europe, Japan, and China, aftermarket solutions will continue to be used for applications such as stolen vehicle tracking, insurance telematics, infotainment, and road user charging.
    Read More
  • Traffic Technology Services snapped up by Miovision
    March 5, 2024
    V2X tech specialist TTS gets insights from 80,000 signalised intersections at present
    Read More
  • Maintaining momentum: learning lessons from the London Olympics
    November 15, 2013
    Japan will not only host this year’s ITS World Congress but has been selected for the 2020 Olympics. So what can Japan, and indeed Brazil, learn from the traffic management for London 2012 - Geoff Hadwick finds out. It was a key moment when Olympic boss Jacques Rogge signed off London 2012, calling the Games “happy and glorious.” Scarred by the logistical disaster of Atlanta 1996 and the last-minute building panic for Athens 2008, Rogge clearly thought London 2012 was an object lesson in how to plan and
    Read More
  • PTV extends cooperation with Gevas
    March 22, 2012
    German software provider PTV has taken a minority stake in Gevas software, a leading traffic engineering firm, further strengthening the companies' close ties. PTV has also acquired product rights for important ITS software components, while Gevas will be able to sharpen its profile as project and integration solutions partner.
    Read More

Highlighted Content