Bosch has acquired a 5% stake in Here, the digital maps services owned by German car manufacturers BMW, Audi and Daimler.
The German-based engineering and electronics firm said the move would help it to develop its capabilities in real-time location services for the Internet of Things, boosting its service business both in and outside the automotive sector.
“Industry 4.0, smart homes, and smart cities are rapidly growing areas of business for us, in which establishing and expanding data-based services will result in synergies with HERE,” said Dr. Volkmar Denner, chairman of the board of management of Bosch.
Here´s three-dimensional maps have already been taking a leading role in the development of self-driving cars, with BMW, Audi and Daimler having bought the company from Nokia in 2015 for €2.8bn.
The purchase price for Bosch´s 5% stake was undisclosed.