Mitsubishi Corporation and Nippon Telegraph and Telephone Corporation of Japan have completed a 30 per cent purchase of mapping and data giant HERE Technologies
As a result, HERE now has nine direct and indirect shareholders: Audi, Bosch, BMW Group, Continental, Intel Capital, MC, Mercedes-Benz, NTT and Pioneer. As a result, a representative of both new investors have joined HERE’s supervisory board,
HERE says the broadened shareholder structure supports the company’s ambitions to accelerate growth in new industries and markets saying that its new Japanese investors gives it a “springboard to further accelerate growth in the Asia Pacific region”.
Edzard Overbeek, CEO, HERE Technologies says the investment supports the company’s “long-term growth ambitions” saying it is “boosting our enterprise value significantly. Both companies recognise the enormous potential for location data and technology to fuel innovation, boost efficiency and sustainability, and ultimately make the world a better place”.