Continental to take a stake in digital mapping company
July 21, 2017
Communication Software | Chicago, IL
German auto-parts supplier Continental has entered negotiations to take an 8% to 10% stake in HERE, a provider of digital mapping and location services, per Germany's Manager Magazin. HERE was spun out of Finnish telecom Nokia and sold to a consortium of carmakers comprising Audi, BMW and Daimler in 2015 at an enterprise value of €2.8 billion. Chipmaker Intel took a 15% stake in the company earlier this year.