© HERE Technologies (illustration purpose only) Business | December 31, 2019
Mitsubishi and NTT new investors for HERE Technologies
Mitsubishi Corp. and Nippon Telegraph and Telephone Corp. (NTT) of Japan are to jointly acquire a 30% ownership stake in HERE Technologies.
The companies are co-investing in HERE via their newly established, jointly owned holding company COCO Tech Holding B.V. in the Netherlands. The transaction is expected to close in the first half of 2020, subject to regulatory approval. The parties have agreed not to disclose the financial details of the transaction, a press release states. Upon completion of the transaction, HERE would have nine direct and indirect shareholders: Audi, Bosch, BMW Group, Continental, Intel Capital, MC, Mercedes-Benz, NTT and Pioneer.
ROHM and Leadrive establish a joint laboratory ROHM and Leadrive Technology, a Chinese manufacturer of automotive powertrain for new energy vehicles, have already held the opening ceremony for their joint laboratory on SiC technology in the China (Shanghai) Pilot Free Trade Zone (Lingang New Area).
- A new EMS provider sees the light of day
- Global microelectronics market with overall stable development
- GaN and SiC power semiconductor markets set to pass $1 billion mark in 2021
- Germany amps up domestic battery production with massive state subsidies
- ABB completes divestment of Power Grids to Hitachi