Bosch & Conti Acquire Each a 5% Stake in HERE

Bosch and Continental have announced last week they have each acquired a 5 percent stake in mapping technology company HERE.

“Bosch is more than cars,” said Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. “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.”

In addition to its investment, Continental will sign a collaboration agreement with HERE. The aim is to pave the way for technologies that facilitate the reliable availability of highly accurate data for the efficient transportation of people and their goods. The companies are focused on global solutions to support the needs of the automotive and mobility industries across all major markets.

“Digital maps and location-based services are key innovations for the future of connected mobility. By leveraging HERE’s technology, we look forward to generating further profitable growth in mobility services and automated driving,” said Dr. Elmar Degenhart, Continental CEO.

Bosch and Continental are acquiring their ownership stake from HERE’s indirect shareholders AUDI AG, BMW Group, and Daimler AG. The parties have agreed not to disclose the purchase price.

Tuesday, January 9th 2018

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