Stuttgart, Germany – Bosch is acquiring 5 percent in HERE Technologies, a global provider of digital mapping and location services. The parties have agreed not to disclose the purchase price. The acquisition gives a boost to Bosch’s services business. It also helps HERE take a further step toward its goal of becoming a global provider of data-based real-time location services to customers both inside and outside the automotive industry. “Bosch is more than cars,” says Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. “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.” Edzard Overbeek, the CEO of HERE Technologies, adds: “We are delighted to have brought on board a strong partner like Bosch, with its broad-based expertise in both the automotive and Internet of Things sectors. Bosch’s strong presence across the Americas, Asia and Europe also offers HERE attractive opportunities to further grow our business globally.” The acquisition is still subject to approval by the antitrust authorities. It is expected to be concluded by the end of the first quarter of 2018.
Further press information
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About Bosch
The Bosch Group is a leading global supplier of technology and services. It employs roughly 421,000 associates worldwide (as of December 31, 2022). The company generated sales of 88.2 billion euros in 2022. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 136 locations across the globe, Bosch employs some 85,500 associates in research and development, of which nearly 44,000 are software engineers.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The remaining shares are held by Robert Bosch GmbH and by a corporation owned by the Bosch family. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress.
