HERE Technologies has confirmed that Mitsubishi Corporation (MC) and Nippon Telegraph and Telephone Corporation (NTT) of Japan have completed their joint acquisition of a 30% ownership stake in the company. The acquisition has been approved by regulators.
The Netherlands-based location and data technology company now has nine direct and indirect shareholders: Audi, Bosch, BMW Group, Continental, Intel Capital, MC, Mercedes-Benz, NTT and Pioneer.
Edzard Overbeek, CEO, HERE Technologies, says: “We welcome Mitsubishi Corporation and NTT as new strategic investors, supporting our long-term growth ambitions and boosting our enterprise value significantly. Both companies recognize the enormous potential for location data and technology to fuel innovation, boost efficiency and sustainability, and ultimately make the world a better place.”
HERE says its wider shareholder structure supports its ambitions to accelerate growth in new industries and markets. With new Japanese investors, HERE will be now able to further accelerate its growth in the Asia Pacific region.