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 launches automated driving initiative in China
    April 19, 2017
    German automotive supplier Robert Bosch is to collaborate with Chinese internet group Baidu and map providers AutoNavi and NavInfo, in a deal that will use data collected by Bosch’s radar and video sensors in vehicles to generate and update high precision maps for automated driving. In addition, Bosch and Baidu have set up a test vehicle for partially automated driving on Chinese motorways. The vehicle, based on a Jeep Cherokee, is equipped with Bosch components, including five mid-section radar sensors and
    Read More
  • Vision technology: the future in focus
    November 23, 2018
    Just a few years ago, terms such as ‘embedded’ and ‘polarisation’ were buzzwords. But now they are real and present examples of vision technology in action – and, Adam Hill finds, the ITS industry is waking up to a number of possible applications Every aspect of the intelligent transportation systems industry moves quickly – but developments in camera technology change with a rapidity which can appear quite bewildering. And with ITS providers constantly searching for an edge against fierce competitio
    Read More
  • Installed base of fleet management systems in Europe to reach 10.6 million by 2020
    August 26, 2016
    The number of active fleet management systems deployed in commercial vehicle fleets in Europe was 5.3 million in Q4-2015, according to a new research report from the M2M/IoT analyst firm Berg Insight. Growing at a compound annual growth rate (CAGR) of 14.9 percent, this number is expected to reach 10.6 million by 2020. All the top-10 vendors have today more than 100,000 active units in Europe. TomTom’s subscriber base has grown both organically and by acquisitions during the past years and the company ha
    Read More
  • Jenoptik boosts business activities in the Netherlands
    May 13, 2014
    Jenoptik Robot, a key part of the Jenoptik Traffic Solutions division, has acquired all the activities of Dutch company Robot Nederland, which will be fully integrated into the group structure over the next few months. Both parties have agreed not to disclose the purchase price. Jenoptik CEO Michael Mertin says: “This step is a manifestation of our consistent strategy to take more responsibility with and for our customers directly on site. This will allow us to incorporate our know-how into future proje
    Read More

Highlighted Content