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

  • Hamburg’s on-demand alternative to commuting by car
    December 5, 2017
    As Hamburg is confirmed as the host for the 2021 ITS World Congress, David Crawford looks at the city’s moves towards enabling MaaS-type operations. Germany’s second-largest city, Hamburg, is pinning its civic reputation on having its promised all-electric, on-demand, shuttle bus ridesharing service up and running by 2018. Partners in the three-year project are regional metro and bus service provider Hamburger Hochbahn and Volkswagen Group’s Berlinbased mobility innovation subsidiary Moia, which was set
    Read More
  • Growing world market for night vision and driver monitoring systems
    August 15, 2014
    MarketsandMarkets’ latest report, Night Vision System (NVS) and Driver Monitoring System (DMS) Market for Passenger Cars - by Geography - Trends and Forecasts 2014-2019 classifies and defines the automotive night vision and driver monitoring systems market in terms of volume and value. The report highlights potential growth opportunities in the coming years as well as covers review of the - market drivers, restraints, growth indicators, challenges, legislation trends, market dynamics, competitive landscape,
    Read More
  • MyTaxi attracts US$13 million in growth investment
    March 22, 2012
    German company myTaxi, which has revolutionised the European taxi market in less than a year, has extended its group of current investors. Daimler AG subsidiary company Car2go joins the board of the Hamburg-based company acquiring a minority stake. Lars Hinrichs, founder of XING and Hackfwd, is also added to the group of myTaxi shareholders. The existing investors T-Venture, the venture capital arm of Deutsche Telekom, and KfW Bankengruppe, all contributed to the capital increase to promote the rapid growth
    Read More
  • ITS European Congress: safer and cleaner mobility
    August 6, 2019
    Smart mobility and the increasing digitalisation of transport were among the main themes of this year’s ITS European Congress in the Netherlands. Ben Spencer picks some highlights from conference sessions which considered possible future developments Navigating between the Evoluon conference centre - a former science museum that resembles a giant-sized UFO - and an automotive campus, there was a lot to see at the 13th ITS European Congress in Brainport, Eindhoven. Organised by Ertico – ITS Europe and th
    Read More

Highlighted Content