Intel and Here to collaborate on proof-of-concept for autonomous vehicles and IoT.
Intel has agreed to purchase a 15% stake in Here, a global provider of digital maps and location-based services for automotive and the “internet of things.” The deal will see Intel acquire the stake from Here’s current indirect shareholders Audi AG, BMW AG and Daimler AG.
As part of the investment, Intel and Here signed an agreement to collaborate on the research and development of a proof-of-concept architecture designed to support real-time updates of high-definition maps targeting automated driving. The two firms also plan to jointly explore strategic opportunities targeting edge-computing devices with location data.
Intel said should the deal gain regulatory approval it expects the transaction to close in the first quarter of 2017.
“We look forward to working with Here and its automotive partners to deliver an important technology foundation for smart and connected cars of the future,” said Intel CEO Brian Krzanich, in a statement.
Last week, Here and Chinese companies NavInfo and Tencent announced a strategic partnership to develop and offer location services for the Chinese market. The deal includes a joint venture in China targeting location services for Chinese and global customers across a range of industries. Based on the JV, Here would extend its services to China making use of NavInfo data and services.
The two Chinese companies, together with global investment firm GIC, also announced plans to jointly acquire a 10% stake in Here.
Nokia sold its 100% ownership stake in Here in early 2015 to the three German carmakers for $3 billion.
