Digital mapping firm HERE needs new capitalist by year-end: Handelsblatt

 

Digital maps company HERE, controlled by German carmakers BMW, applied scientist and Volkswagen (VOWG_p.DE), aims to seek out a replacement capitalist by the tip of the year, HERE chief Edzard Overbeek told a German newspaper.
“The carmakers wish to open the circle of shareholders. we tend to square measure lecture dozens of parties inquisitive about taking a stake,” daily Handelsblatt quoted Overbeek as speech communication in Associate in Nursing interview revealed on weekday.
Germany’s luxury automotive teams together with Daimler’s Mercedes-Benz, Volkswagen’s Audi division and BMW bought HERE for two.5 billion euros ($2.8 billion) from Nokia last year to form an alternate digital mapping business to Google.
Daimler confirmed in April it absolutely was in talks with Amazon.com and Microsoft regarding taking a minority stake in HERE. machine provider old master [ROBG.UL] has conjointly same it absolutely was in talks with HERE.
“It is very important to seek out the proper mixture of homeowners… Partners from the IT sector, from provision or retail square measure potential,” Overbeek same, in keeping with the newspaper, while not naming any potential investors.
Intelligent mapping systems provide data to manage self-driving cars, that square measure equipped with street-scanning sensors to live traffic and road conditions. This location information will successively be shared with different map users.