HERE Technologies has announced that Mitsubishi Corporation (MC) and NTT of Japan are jointly acquiring a 30% ownership stake in the company.
The companies are co-investing in HERE via their newly established, jointly owned holding company COCO Tech Holding B.V. in the Netherlands.
HERE is a Dutch location data and technology platform.
Edzard Overbeek, CEO HERE Technologies, says: “We have been greatly inspired by our conversations. Mitsubishi Corporation and NTT share our vision of enabling an autonomous world for everyone and believe in our ability to harness our location platform to address major global challenges like urban congestion, supply chain inefficiency, and sustainable resource usage just to name a few.”
Jun Sawada, President and CEO, NTT, adds: “The collaboration between HERE’s location technology and the business momentum of MC and NTT will generate great business opportunities. I look forward to delivering valuable solutions for all customers together.”
HERE’s other shareholders include: Audi, Bosch, BMW Group, Continental, Intel Capital, Mercedes-Benz and Pioneer.