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

  • Cellular communications drive the way forward for tolling
    January 18, 2012
    For more than 20 years prior to joining the ITS industry, Mike Payne of Idris, part of Federal Signal Technologies, worked for Vodafone - the world's biggest mobile operator. Here, he considers how the road tolling sector can grow and learn from the cellular industry. The global cellphone has been one of the most successful collaborative technology projects in the last 30 years. Mobile phone technology developed throughout the 20th century with the first public service in the early 70s. This was followed by
    Read More
  • Growth of OEM telematics in new passenger cars
    March 3, 2016
    The latest research by ABI Research forecasts the global penetration of embedded and hybrid factory installed OEM telematics in new passenger cars to exceed 72 per cent by 2021. Growth will mainly be driven by key volume car OEMs in the US, European Union and China markets. Brands within these markets showing accelerated growth include GM, which expects to reach 12 million OnStar subscribers globally by the end of 2016, including its Opel brand in Europe and Cadillac in China; and Ford, which claims to have
    Read More
  • Teleste to enable development of smart campus applications in Thailand
    March 6, 2019
    Teleste is to help the Prince of Songkla University (PSU) in Thailand develop smart campus applications for transport and street lighting. PSU students and researchers will utilise Teleste’s advanced video management, Internet of Things and situational technologies to develop new services and applications. The project is being launched in support of the government’s Digital Thailand 4.0, an initiative which seeks to establish an economy based on digital computing technologies. Dr. Wasin Suwannarat, vi
    Read More
  • Here & AWS connect on supply chain
    May 11, 2022
    Data visibility will help optimise logistics planning and last-mile delivery, companies say
    Read More

Highlighted Content