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© 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.
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September 28 2020 2:54 pm V18.10.14-2