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

  • Smart phones offer smarter way to pay for travel
    December 16, 2013
    David Crawford reviews developments in near field communications for mass transit payments. ‘A carefully-designed and well-implemented mobile near field communications (NFC) solutions can give passengers a compelling experience that will encourage them to make greater use of public transport.’ That was the confident conclusion of a recent joint White Paper drawn up by the International Association of Public Transport and the global mobile operators’ representative group GSMA.
    Read More
  • Brodmann17 joins 5G lab after ADAS tests 
    January 17, 2022
    Brodmann17 has already made its tech available to partners Intel, Microsoft and T-Mobile 
    Read More
  • Econolite Group appoints new president and COO
    August 23, 2016
    Econolite Group (EGI) has appointed Abbas Mohaddes as president and COO, succeeding David St Amant, who is scheduled to retire at the end of 2016. Mohaddes will work closely with St Amant until December to help ensure a smooth transition of responsibilities. Reporting directly to Econolite Group’s CEO Mike Doyle, Mohaddes will be responsible for the company’s global operations, including the continued development of strategic partnerships. During this transition period, EGI will also begin the process o
    Read More
  • ITS America announces 'strong slate of leaders' for 2024
    December 8, 2023
    New officers are drawn from public and private sector mobility, technology and ITS sectors
    Read More

Highlighted Content