We were reporting earlier that the three giants from Germany were among the finalists in the race for Nokia’s HERE digital mapping business. Well, it was hard to imagine anything standing in the way of such an alliance and, indeed, the three premium brands have come out as victors.
The three companies and Nokia Corporation have agreed today, the 3rd of August, over the transaction of the latter’s mapping and location business HERE. 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.
The three companies will each hold an equal stake in HERE, none seeking to acquire a majority interest. Subject to the approval of the relevant antitrust authorities, the transaction is expected to close in the first quarter of 2016.
HERE is laying the foundations for the next generation of mobility and location based services. For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving. Extremely precise digital maps will be used in combination with real-time vehicle data in order to increase road safety and to facilitate innovative new products and services. On the basis of the shared raw data, all automobile manufacturers can offer their customers differentiated and brand-specific services.
“High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of HERE, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries,” stated Dieter Zetsche, Chairman of the Board of Management of Daimler AG.
