Digital Maps Company HERE Is Looking For a New Investor

Amazon and Microsoft Discussing Investment in HERE Map Service
A visitor enters the headquarters of HERE on April 6, 2016 in Berlin, Germany. Amazon and Microsoft are in talks about purchasing a minority stake in HERE, makers of software used by Germany luxury car companies in the development of self-driving cars. A consortium of car manufacturers including Daimler, Volkswagen and BMW bought the company from Nokia for 2.5 billion euros ($2.8 billion) last year.
Photograph by Adam Berry/Getty Images

Digital maps company HERE, controlled by German carmakers BMW, Daimler, and Volkswagen, aims to find a new investor by the end of the year, HERE chief Edzard Overbeek told a German newspaper.

“The carmakers want to open the circle of shareholders. We are talking to dozens of parties interested in taking a stake,” daily Handelsblatt quoted Overbeek as saying in an interview published on Tuesday.

Germany’s luxury automotive groups including Daimler’s Mercedes-Benz, Volkswagen’s Audi division, and BMW bought HERE for 2.5 billion euros ($2.8 billion) from Nokia (NOK) last year to create an alternative digital mapping business to Google (GOOGL).

Daimler confirmed in April it was in talks with Amazon (AMZN) and Microsoft (MSFT) about taking a minority stake in HERE. Auto supplier Bosch has also said it was in talks with HERE.


“It is important to find the right mixture of owners … Partners from the IT sector, from logistics or retail are possible,” Overbeek said, according to the newspaper, without naming any possible investors.

Intelligent mapping systems supply information to control self-driving cars, which are equipped with street-scanning sensors to measure traffic and road conditions. This location data can in turn be shared with other map users.

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