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© 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.

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May 11 2018 10:46 am V9.5.4-2