© continental - for illustrative purposes Electronics Production | January 09, 2018
Bosch and Conti each acquires a stake in HERE
Digital mapping and locations service provider, HERE Technologies, has two new part owners. Both Bosch and Continental has each acquired a five percent stake in the company
The acquisition gives a boost to Bosch’s services business. It also helps HERE take a further step toward its goal of becoming a global provider of data-based real-time location services to customers both inside and outside the automotive industry. “Bosch is more than cars,” says 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.” Edzard Overbeek, the CEO of HERE Technologies, adds: “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.” The acquisition is still subject to approval by the antitrust authorities. It is expected to be concluded by the end of the first quarter of 2018. Technology company Continental has also signed a definitive agreement to acquire a 5 percent indirect ownership stake in HERE. The transaction is also subject to merger control approval. In addition to the investment, Continental will sign a collaboration agreement with HERE. The aim is to pave the way for technologies that facilitate the availability of highly accurate data for the efficient transportation of people and their goods. “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. Edzard Overbeek, CEO of HERE Technologies, said: “Our vision for HERE is to enable an autonomous world for everyone. To achieve this you need strong partners that complement each other in different areas. Therefore, we are excited to welcome Continental as both a strategic investor and strong partner with whom we can work together on the future of mobility and transportation.” Together they intend to build systems that make use of HERE HD Live Map, the map for automated vehicles, and the cloud connectivity that comes with it for new applications and refinements in vehicle automation and mobility services. They will, for example, explore the creation of more precise electronic horizons (eHorizon) in advanced driver assistance systems, providing vehicles and their drivers with a highly accurate and fresh view of the road ahead. They will also explore how the positioning of a vehicle on the road can be improved and how the information needed for it can be maintained and updated dynamically.
Heidenhain opens new expanded Western US HQ This includes the expansion of its executive, sales and technical support offices, as well as demo facilities in San Jose, California.
Delphi Technologies awarded new power electronics business Delphi Technologies is making new strides by securing new power electronics business wins in the second quarter of 2020 with three Chinese OEMs. The new business is scheduled to launch in the 2021-23 timeframe.
Mycronic combines US operations in new facility near Boston Mycronic US says that all of its operations have been integrated into a new 102,000 square-foot facility in Tewksbury, near Boston, Massachusetts.
Lynn Electronics acquires West Coast cable assembly company Pennsylvania-based Lynn Electronics, a manufacturer of fibre optic and copper cable assemblies, has completed its acquisition of Coast 2 Coast, LLC (C2C), an Anaheim, California cable assembly manufacturer.
Fictiv and Jabil team up for agile 3D printing collaboration The collaboration aims to accelerate and de-risks product development in the move from prototyping and low volume production to large scale global fulfilment.
TT expands with new industrial electronics manufacturing facility The UK-based electronics manufacturing specialist is expanding the footprint of its Global Manufacturing Solutions division by opening operations in Kuantan, Malaysia.
GE Appliances invests $62 million at its Louisville facility The manufacturer is gearing up to build high-end refrigerators and expand capacity at its manufacturing facility in Louisville, Kentucky., creating 260 new jobs.
Eaton buys new facility – merges busway operations from multiple sites Power management company Eaton has purchased a new facility in Hodges, South Carolina, establishing a new home for Eaton’s busway product line currently spanning three facilities across Greenwood County.
AIM adds new facility in Brazil AIM Solder has opened a new wholly-owned facility in Manaus, Brazil. This new stocking facility, which represents the only legitimate source of AIM products in Brazil, enables the company to support a growing Brazilian market.
PFOA now in REACh and POP regulation On 4 July, PFOA - perfluorooctanoic acid, its salts and precursor compounds - was included in the POP (Persistent Organic Pollutants) Regulation (EU) 2019/1021 and at the same time also came into force in the REACh Regulation (Annex XVII, entry 68).
Manz AG receives further Battery order Manz AG is expanding its successful partnership with an international battery manufacturers in the Energy Storage segment with a further major order in the mid double-digit million euro range.
Advantech and Interlatin to set up JV in Mexico Industrial IoT specialist, Advantech, says it is establishing a joint venture subsidiary in Mexico with its channel partner Interlatin.
Mercedes-Benz takes equity stake in Farasis Mercedes-Benz is taking another important step on its journey towards CO₂--neutral mobility. The Stuttgart-based car manufacturer has launched a strategic partnership with Chinese battery cell manufacturer Farasis Energy (Ganzhou) Co., Ltd., including taking an equity stake.
A new EMS provider sees the light of day EMS providers DataED and Bestronics merge to launch a new player – Emerald EMS.
Tektronix joins the fight agains COVID-19 Tektronix has shifted its focus from supporting vehicle manufacturing to assisting with ventilator production.
ABB completes divestment of Power Grids to Hitachi ABB has reached a significant milestone in the company’s transformation towards a decentralized global technology company, with the completion of the divestment of 80.1% of its Power Grids business to Hitachi.
Germany amps up domestic battery production with massive state subsidies The German government is investing more than EUR 1.5 billion in battery cell research and production.
Internal promotions and executive retirements at Kimball EMS provider, Kimball Electronics, has made two new internal promotions aimed at contributing to the company accelerating its strategic growth plans.
Kyocera & TMDU team up for research on vitals measurement headset Kyocera Corporation and Tokyo Medical and Dental University (TMDU) have teamed up on a joint research project to develop a wireless headset that can remotely monitor high accuracy patient biometrics, such as blood oxygen saturation (SpO2).
German battery manufacturer receives funding for cell production facility VARTA AG receives public funding of EUR 300 million for battery cell production facility.
Scanfil to streamline its factory network The EMS provider is planning to combine the production of its Hamburg factory with its other factories in Germany and Poland
Kitron awarded new order within measurement technology Kitron has been awarded new business for measurement technology. The award covers a period of five years, and the expected annual value is between EUR 3.5-5 million.
NORBIT ASA awarded aquaculture contract Norwegian technology manufacturer, NORBIT, has been awarded a new contract from an existing customer within the aquaculture market.
Saki strengthens its Asian operations The AOI specialist is expanding its global sales organisation with new Asia sales department, and appointing Katsuhiro Eddie Ichiyama as Senior General Manager for the Asian regionLoad more news