Today we welcome two new shareholders into the fold. Bosch and Continental will each acquire a 5 percent stake in the company. They join a growing list of star investors that already includes Audi, BMW, Daimler, Intel and Pioneer.
As with every investor that's come on board so far, we’ve also explored ways we can work together on future services and technologies for businesses and consumers at a global scale.
With Continental, we'll be focused on automated driving and mobility services. With Bosch, meanwhile, our collaboration will span automotive, transportation and industrial Internet of Things.
Importantly, both companies operate global businesses, with operations across the Americas, Europe and Asia. This will provide customers everywhere more ways in which to take advantage of HERE location data and services.
Industry 4.0, smart homes, and smart cities are rapidly growing areas of business for Bosch. In those areas, establishing and expanding data-based services will be prime synergies with HERE.
In the Industry 4.0 domain, one potential area HERE and Bosch are exploring is intralogistics. For example, high-definition indoor navigation maps could be used to automate and streamline flows of goods all the way to the production line.
For Continental, digital maps and location-based services are key innovations for the future of connected mobility.
By leveraging HERE’s technology, Continental looks forward to generating further profitable growth in mobility services and automated driving.
One area of our collaboration with Continental will be in the creation of more precise electronic horizons in advanced driver assistance systems to give vehicles and their drivers a highly accurate and robust view of the road ahead.
Both stake acquisitions are still subject to regulatory approval. The financial details of each transaction have not been disclosed.
To find out more about our work with Bosch, read the full press release here.
To learn more about our plans with Continental, read the press release here.