Three German automakers have joined forces and acquired Nokia’s HERE mapping division.
In a rare example of cooperation, Audi, BMW and Daimler have each obtained an equal stake in the Finnish subsidiary. Following the approval of antitrust authorities, this $3.1 billion deal is set to close early in 2016, likely the first quarter.
This agreement should give the automakers involved access to high-quality mapping technology and location-based services. According to a press release pushed out by BMW, “The acquisition is intended to secure the long term availability of HERE’s products and services as an open, independent and value creating platform for cloud-based maps and other mobility services accessible to all customers from the automotive industry and other sectors.”
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A major reason Audi, BMW and Daimler decided to acquire HERE is to help with their upcoming driver-assistance features, particularly with an eye toward fully autonomous vehicles. Data, and lots of it, will play a key role in enabling this technology.
HERE is a leader in mapping and location-based technology. The company’s services are available in nearly 200 countries around the world in more than 50 languages. Going forward it will continue to expand its offerings to make them available to even more customers across the globe.
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