GISuser.com

Mobile, Technology, and Business news

  • PRESS
    • Submit PR
    • Top Press
    • Business
    • Software
    • Hardware
    • UAV News
    • Mobile Technology
  • FEATURES
    • Around the Web
    • Social Media Features
    • EXPERTS & Guests
    • Tips
    • Infographics
  • Events
  • CAREERS
  • Advertise
    • Advertise
  • Shop
  • Tradepubs
  • facebook
You are here: Home / * PRESS / acquisitions and funding / HERE Technologies welcomes Mitsubishi Corporation and NTT as new investors

HERE Technologies welcomes Mitsubishi Corporation and NTT as new investors

December 20, 2019 By GISuser

HERE Technologies today announced that Mitsubishi Corporation (MC) and Nippon Telegraph and Telephone Corporation (NTT) of Japan are to jointly acquire a 30% ownership stake in the company.

  • Companies to co-invest, taking 30% ownership stake in HERE
  • Broadened shareholder structure will support HERE’s ambitions to accelerate growth in new industries and markets
  • HERE to explore further strategic opportunities with MC and NTT

The companies are co-investing in HERE via their newly established, jointly owned holding company COCO Tech Holding B.V. in the Netherlands.

The transaction is expected to close in the first half of 2020, subject to regulatory approval. The parties have agreed not to disclose the financial details of the transaction.

HERE is a location data and technology platform, providing a development environment (HERE Workspace), a data exchange (HERE Marketplace), map creation and visualization capabilities (HERE Studio) and a set of location services (HERE Location Services). These capabilities leverage the Reality Index, a rich source of location contextual data that captures relationships between places and things. The company has more than 9,000 employees across 56 countries.

“We are excited to welcome Mitsubishi Corporation and NTT as new strategic investors,” said Edzard Overbeek, CEO HERE Technologies. “We have been greatly inspired by our conversations. Mitsubishi Corporation and NTT share our vision of enabling an autonomous world for everyone and believe in our ability to harness our location platform to address major global challenges like urban congestion, supply chain inefficiency, and sustainable resource usage just to name a few. We will be honored to play a role in the digitalization initiatives of Mitsubishi Corporation and NTT. Their investment also means we are further diversifying our shareholder base beyond automotive, which is important given the appeal and necessity of location technology across geographies and industries.”

“We believe that HERE’s Reality Index has unlimited potential,” said Takehiko Kakiuchi, President and CEO, Mitsubishi Corporation.

“The collaboration between HERE’s location technology and the business momentum of MC and NTT will generate great business opportunities. I look forward to delivering valuable solutions for all customers together,” said Jun Sawada, President and CEO, NTT.

MC and NTT are acquiring the stake by purchasing new shares as well as acquiring existing shares from current HERE shareholders. This is in line with the strategic goal of having a broadened shareholder structure for HERE.

Upon completion of the transaction, HERE would have nine direct and indirect shareholders: Audi, Bosch, BMW Group, Continental, Intel Capital, MC, Mercedes-Benz, NTT and Pioneer.​

With these new Japanese investors, HERE will have a springboard to accelerate growth in the Asia Pacific region. To support its long-term regional growth ambitions, HERE is currently in preliminary exploratory talks with both MC and NTT on strategic initiatives that would include supporting both companies’ digitalization efforts.

HERE has been growing its presence in Asia Pacific during the past three years. Its commitment to the region includes the recent extension of the HERE Workspace along with a suite of HERE Location Services into Japan.

About HERE Technologies
HERE, a location data and technology platform, moves people, businesses and cities forward by harnessing the power of location. By leveraging our open platform, we empower our customers to achieve better outcomes – from helping a city manage its infrastructure or a business optimize its assets to guiding drivers to their destination safely. To learn more about HERE, please visit www.here.com and http://360.here.com.

Filed Under: acquisitions and funding, Top Text Lead Story Tagged With: HERE






Editor’s Picks

How Privacy Concerns Will Shape LiDAR Applications Using UAS

Feature – How Privacy Concerns Will Shape LiDAR Applications Using UAS

2014 Open Data for Development Research Grants – Call for Proposals

Social Guide – The Definitive Starting Point for Mastering your Twitter Analytics

Twitter feed and map provide real-time water, weather and flood forecasting for Texas

See More Editor's Picks...

Feed

  • RSS


GIS jobs


Recent Features

Digitalization and Simulation at the North Pole

Natural Gas District & GIS-Centric Asset Management

5 Ways Technology Is Affecting The Sharing Economy

Spotlight – Township Canada: Explore Canadian Legal Land Descriptions on a Map

GeoGeeksinCars – The one in “Tippy” the right-hand drive Mitsubishi, at DevSummit

More Posts from this Category

Categories

Recent Posts

  • Filing a Chapter 7 Bankruptcy Before 8 Years: What You Need to Know
  • How to Grab knowledge about Profitable BTC Trading in Bhutan?
  • Authentic and useful details about bitcoin trading in Belarus
  • Top 8 Reasons to Create a Business Plan
  • Compatibility of Personality Types and Zodiac Signs

RSS Career Tips

  • Four Characteristics of the Best Virtual Employees
  • 28 Tools to Conquer the Social Media Recruiting World
  • 8 Questions Employers Should Ask About Coronavirus
  • Jobcase Launches Free Unemployment Resource Center for Workers Impacted by COVID-19
  • Must-Have Gadgets and Technology for the Remote Office Worker


shop for geogeek swag

RSS Tech pubs

  • The Latest Trends in Cybersecurity
  • Addressing Personalized Medicine's Complexity Problem: Examples from Parkinson's Disease
  • Your 7-Step Roadmap To Peak Season Success

RSS Computers

  • HackerProof: Your Guide to PC Security
  • Windows... On Speed
  • The Idiot's Ultimate Guide to Build Your Own PC

RSS HR Tips

  • Sell Smart: The Benefits of Specialty Web Stores for Sale Events
  • Geospatial mapping performance: Get your questions personally answered by utility experts
  • Diversity Intelligence: How to Create a Culture of Inclusion for your Business ($15.00 Value) FREE for a Limited Time

RSS Gov Tech

  • 7 Steps to Achieving Security with Zero Trust
  • City of Los Angeles Stays One Step Ahead with Intelligence from Recorded Future
  • Zero Trust Architecture Starts With Modern ICAM

RSS UAV news

  • Dedrone Launches DedronePortable for Military and Commercial Entities Around the World
  • Preliminary Agenda Announced for 2022 UAS Summit & Expo
  • Draganfly Deploys Versatile Situational Assessment Drones to Ukraine

RSS Geojobs

  • IT Endpoint Technician
  • Help Desk Technician
Copyright Spatial Media LLC 2003 - 2015