Intel to take stake in German mapping firm HERE in automated driving push
U.S. chip maker Intel (INTC.O) will take a 15 percent stake in German digital mapping firm HERE, it said on Tuesday, as it seeks to build its presence in automated driving technology.
A filing to the German cartel office on Tuesday showed Intel has sought approval to buy a stake in the company, which is controlled by German carmakers Daimler DAIGN.DE, BMW (BMWG.DE) and Volkswagen (VOWG_p.DE).
Intel and HERE said in a statement that they had also signed an agreement to collaborate on the research and development of real-time updates of high definition (HD) maps for highly- and fully-automated driving. Intel did not disclose how much it would pay for the stake but said the transaction is expected to close in the first quarter.
