Continental is all set to acquire five percent stake in mapping and location services firm HERE Technologies. Also, Continental will sign a collaboration agreement with HERE for technologies that facilitate the reliable availability of highly accurate data for the efficient transportation. The share will be sold by HERE’s current indirect shareholders, AUDI, BMW Group and Daimler.
Continental’s experience from its Intelligent Transportation Systems (ITS) business unit in mobility services and in service operations, the know-how of the Continental affiliate Elektrobit in software, cybersecurity and embedded systems capabilities as well as HERE’s expertise in high-resolution digital mapping, software and cloud services will be leveraged under this new collaboration.
“Digital maps and location-based services are key innovations for the future of connected mobility. By leveraging HERE’s technology, we look forward to generating further profitable growth in mobility services and automated driving,” said Dr Elmar Degenhart, Continental CEO.
Edzard Overbeek, CEO of HERE Technologies has said that the vision of the company is to enable an autonomous world for everyone.
“To achieve this you need strong partners that complement each other in different areas. Therefore, we are excited to welcome Continental as both a strategic investor and strong partner with whom we can work together on the future of mobility and transportation,” he added.