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

  • Sirit to be acquired by Federal Signal
    February 1, 2012
    Leading provider of radio frequency identification (RFID) technology, Sirit, and Federal Signal Corporation have signed a definitive agreement whereby Federal Signal will acquire all of the issued and outstanding common shares of Sirit for cash consideration of CDN$0.30 per share (US$0.29) by way of a court approved plan of arrangement under the Business Corporations Act (Ontario).
    Read More
  • Helsinki’s residents trial MaaS as alternative to private cars
    August 21, 2018
    Would you give up your own car? Helsinki implemented MaaS late last year and Colin Sowman discovers that the initial reaction has been positive What would it take for you to give up your own car? That is the question posed by Sampo Hietanen, the so-called ‘father’ of Mobility as a Service (MaaS) and CEO of MaaS Global. And he is about to discover if MaaS really will convince the people of Helsinki to do the unthinkable. MaaS Global introduced a fledgling version of its Whim app in the city in late 2016
    Read More
  • Align transport infrastructure needs with ITS offerings
    July 19, 2012
    Kallistratos Dionelis, General Secretary of ASECAP, ponders the absence of creativity and innovation in the road management sector. 'Traditional' road managers and ITS specialists share many of the same ultimate goals and yet, he says, a common understanding of what technology can achieve is still conspicuously absent.
    Read More
  • Align transport infrastructure needs with ITS offerings
    July 19, 2012
    Kallistratos Dionelis, General Secretary of ASECAP, ponders the absence of creativity and innovation in the road management sector. 'Traditional' road managers and ITS specialists share many of the same ultimate goals and yet, he says, a common understanding of what technology can achieve is still conspicuously absent.
    Read More

Highlighted Content