Intel to acquire stake in Here
Intel has agreed to purchase a 15 percent ownership stake in digital maps and location-based services provider Here, from Here’s current indirect shareholders, Audi, BMW and Daimler.
Intel and Here have also signed an agreement to collaborate on the 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 two companies plan to jointly explore strategic opportunities that result from enriching edge-computing devices with location data.
Intel will also work with Audi, BMW and Daimler to test the architecture. Intel and Here envision making the architecture broadly available across the automotive industry as a seamlessly integrated offering that simplifies and shortens time of development for automakers.
The transaction is expected to close in the first quarter of 2017.