Intel is looking to buy a 15% share in HERE , the mapping company which Nokia sold to German automakers a year ago. Intel has sought the approval to buy a stake in the company which is now controlled by German Car makers Daimler, BMW and Volkswagen as reported by Reuters.
HERE has been providing Mapping data and other services to companies in the automotive and technology sectors. Microsoft’s Windows 10 Maps app still uses the HERE’s mapping data.
The news of the investment by Intel has been confirmed in a press release by the company saying:
- Intel is acquiring a 15 percent ownership stake in HERE, a global provider of digital maps and location-based services for automotive and the Internet of Things (IoT).
- Companies plan to jointly develop a highly scalable proof-of-concept architecture that supports real-time updates of high-definition (HD) maps for highly and fully automated driving as well as explore opportunities in IoT and machine learning.
- HERE will add Intel’s nominee to its Supervisory Board of Directors when the transaction closes, which is expected in the first quarter of 2017.
- Intel describes the proof of concept architecture that HERE and Intel will work on, explaining that “today’s navigation technology can pinpoint a car’s location to within meters, but next generation, HD mapping supports localization to within centimeters.”