Intel eyeing Here stake - Mobile World Live

Intel eyeing Here stake

03 JAN 2017

Chip giant Intel is looking to make an investment in mapping company Here, Reuters reported, citing a filing made with Germany’s cartel office.

Here was acquired from Nokia by a consortium of carmakers – Audi, BMW and Daimler. And last week, it was announced that Chinese players NavInfo and Tencent had formed a partnership with Here to address their home market – a deal which sees the companies, along with investment firm GIC, jointly acquiring a 10 per cent stake in Here.

NavInfo and Tencent were linked with Here previously, before Nokia announced its deal.

At the time of this deal, Edzard Overbeek, Here CEO, said: “Our intention has been to broaden our shareholder base to reflect how location intelligence will fuel invention and expansion across different industries in all parts of the world”.

With Intel working hard to build its presence in the IoT space, a deal with Here will enable it to boost its position in the automotive market, at a time when autonomous driving and advanced driver assistance is a real industry hot-topic.

In November 2016, the US company announced a $250 million investment over two years “to make fully autonomous driving a reality”, with chief Brian Krzanich keynoting at the LA Auto Show’s AutoMobility conference.

It has also created a dedicated Automated Driving Group to focus on this sector.

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Steve Costello

Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist...More

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