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

  • Data collection becoming a crowded market
    October 26, 2017
    New ways of gathering data can revolutionise traffic and travel management, so is the writing on the wall for the traditional methods? Jon Masters reports. There are two big industries that stand to be revolutionised by massive increases in data – healthcare and transportation, says Finlay Clarke, the UK managing director of the smartphone sat nav traffic app, Waze. “At present we’re really only at the start of how cities, in particular, will be transformed,” he says.
    Read More
  • Getting to the point
    September 4, 2018
    Cars are starting to learn to understand the language of pointing – something that our closest relative, the chimpanzee, cannot do. And such image recognition technology has profound mobility implications, says Nils Lenke Pointing at objects – be it with language, using gaze, gestures or eyes only – is a very human ability. However, recent advances in technology have enabled smart, multimodal assistants - including those found in cars - to action similar pointing capabilities and replicate these human qual
    Read More
  • NTTA: Diversity boosts access & opportunity
    November 3, 2021
    North Texas Tollway Authority has won IBTTA’s first Diversity, Equity and Inclusion Award. But what made the organisation’s focus on disadvantaged, minority and woman business enterprises stand out?
    Read More
  • The free and open internet is dead
    June 25, 2018
    A key US vote may have changed what internet service providers are allowed to charge and how they restrict content: Joe Dysart explains why this has consequences for ITS companies. While most people were rushing around last December, grabbing last-minute gifts for the holidays, the US Federal Communications Commission (FCC) voted to drive a stake into the heart of the free and open internet. In a majority vote, the agency killed ‘net neutrality’ - a policy that has prevented your regional internet service
    Read More

Highlighted Content