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Bosch, Conti to buy stakes in digital mapping firm

Munich, Germany – German suppliers Robert Bosch and Continental said they each plan to acquire 5% stakes in Here Technologies, a digital mapping company jointly controlled by BMW, Daimler and Audi.

The suppliers and Here did not disclose purchase prices. The deal, which is subject to antitrust approvals, is expected to close by the end of the first quarter.

BMW, Daimler and Audi acquired Here from Finnish telecoms group Nokia for €2.8 billion in 2015, in part to avoid becoming dependent on third-party mapping providers such as…

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