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

  • Q&A: Samuel Johnson, IBTTA
    February 18, 2020
    Samuel Johnson, chief operations officer for the Transportation Corridor Agencies in Orange County, California - and 2020 IBTTA president - talks about his background and career...
    Read More
  • Road death toll increasing in poor countries, says WHO report
    February 20, 2019
    The latest figures from the World Health Organisation on road deaths make sobering reading – but they are particularly shocking when you consider how the relative poverty of countries contributes to high fatality rates, says Adam Hill Around 1.35 million people died on the world’s roads in 2016, while road traffic injuries are now the leading cause of death among young people, according to new statistics from the World Health Organisation (WHO). Perhaps the most sobering point from its latest research
    Read More
  • Smart parking to enable intelligent mobility in global mega cities
    June 3, 2015
    New analysis from Frost & Sullivan, Strategic Analysis of Smart Parking Market in Europe and North America, finds that the smart parking market, including peer-to-peer (P2P), earned revenues of US$7.05 billion in 2014 and estimates this to accelerate up to US$43.084 billion in 2025 at a compound annual growth rate (CAGR) of 17.89 per cent. The parking industry in Europe and North America is rapidly innovating towards ‘smart’. In addition to adopting high-end automation solutions and software for parking
    Read More
  • Grey areas: who's legally responsible for C/AVs?
    October 22, 2018
    Connected and autonomous vehicles are an exciting development in the ITS sector – but amid the hype some big questions about their deployment remain unanswered, finds Ben Spencer Connected and autonomous vehicles (C/AVs) have the potential to change the way we travel - and to eliminate road fatalities. But policy makers and regulators will need to ensure user and public safety is included in future planning. The legal and insurance industries will have to catch up, too. For example, questions over who is
    Read More

Highlighted Content