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

  • PTV Group acquires Conundra
    December 13, 2022
    Route planning specialists combine to scale up logistics division as e-commerce grows
    Read More
  • Bosch and Daimler developing automated parking system
    June 29, 2015
    Daimler, Bosch and car2go are cooperating on a new project that will see cars parking themselves. Automated parking uses an intelligent infrastructure in the car park and a vehicle control unit from Bosch in conjunction with the newest generation of Mercedes-Benz on-board sensors and the car-sharing expertise of car2go. This will enable automated manoeuvring in appropriately equipped parking garages in the near future. The user books a vehicle from car2go via smartphone and as soon as he is in the ca
    Read More
  • Panasonic in Colorado: Rocky mountain way
    December 3, 2018
    Panasonic is at the heart of a C-V2X project which began last year in Colorado. The company’s smart mobility boss Chris Armstrong tells Adam Hill how it is working out Colorado needs traffic and transport solutions – and fast. The US state’s population has grown 50% in the last 20 years and another 50% hike is predicted in the next 20. It also spends more than $13 billion in roadway crash costs each year. In 2015, 546 people died in traffic-related crashes, and more than 3,000 were seriously injured.
    Read More
  • Ertico is looking east: here’s why
    March 3, 2020
    The first Central Eastern Congress on ITS is to be held in Russia in September. Jacob Bangsgaard, CEO of Ertico – ITS Europe, tells Adam Hill why the event is necessary – and what visitors can expect
    Read More

Highlighted Content