HERE is a global provider of digital maps and location-based services for automotive and the Internet of Things (IoT). HERE’s current indirect shareholders are AUDI AG, BMW AG and Daimler AG. With Intel’s stake coming in, the companies will focus on research and development of a highly scalable proof-of-concept architecture that supports real-time updates of high definition (HD) maps for highly and fully automated driving. Additionally, the companies plan to jointly explore strategic opportunities that result from enriching edge-computing devices with location data.
The transaction is expected to close in the first quarter of 2017, after obtaining regulatory approvals. Intel will nominate Doug Davis, senior vice president and general manager of the Automated Driving Group (ADG) at Intel, to HERE’s Supervisory Board of directors once the transaction is completed.