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

  • Here Technologies and partners to deliver standardised HD map
    May 24, 2018
    Here Technologies and its partners in East Asia are to develop a standardised high definition (HD) map of the road environment from 2020. Through their OneMap Alliance, the companies say they intend to offer a solution that will guide self-driving cars safely and efficiently. These regional mapping partners include China-based NavInfo, Increment P (IPC) from Japan and SK Telecom Korea. Here says the global HD map offering is aligned to the specification developed for Here HD Live Map.
    Read More
  • Technology and finance shapes up to make MaaS happen
    June 7, 2017
    The technology and finance aspects needed for Mobility as a Service (MaaS) to become widely adopted are taking shape as Geoff Hadwick and Colin Sowman hear. Sampo Hietanen, CEO of MaaS Global and ‘father’ of MaaS, started his address to ITS International’s recent MaaS Market conference in London by saying: “All of the problems that can be solved by a company or group of companies have already been solved, and now we are left with the big ones such as housing, transport and health. He called MaaS the “Netfli
    Read More
  • Nairobi looks to ITS to ease travel problems
    March 6, 2018
    Shem Oirere looks at plans to tackle chronic congestion in the Kenyan capital - where commuters can typically expect it to take up to two hours to complete a 15km journey. Traffic jams in the Kenyan capital, Nairobi, are estimated to cost the country $360 million a year in terms of lost man-hours, fuel and pollution. According to Wilfred Oginga, an engineer with the Kenya Urban Roads Authority (KURA), the congestion has been exacerbated by poor regulation and enforcement of traffic rules, absence of
    Read More
  • Nairobi looks to ITS to ease travel problems
    March 6, 2018
    Shem Oirere looks at plans to tackle chronic congestion in the Kenyan capital - where commuters can typically expect it to take up to two hours to complete a 15km journey. Traffic jams in the Kenyan capital, Nairobi, are estimated to cost the country $360 million a year in terms of lost man-hours, fuel and pollution. According to Wilfred Oginga, an engineer with the Kenya Urban Roads Authority (KURA), the congestion has been exacerbated by poor regulation and enforcement of traffic rules, absence of
    Read More

Highlighted Content