Intel to Acquire 15 Percent Ownership of HERE
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Intel to Acquire 15 Percent Ownership of HERE
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Companies to Collaborate on Technology for Autonomous Vehicles and IoT
NEWS HIGHLIGHTS
* Intel is acquiring a 15 percent ownership stake in HERE, a global provider
of digital maps and location-based services for automotive and the Internet
of Things (IoT).
* Companies plan to jointly develop a highly scalable proof-of-concept
architecture that supports real-time updates of high definition (HD) maps
for highly and fully automated driving as well as explore opportunities in
IoT and machine learning.
* HERE will add Intel's nominee to its Supervisory Board of Directors when the
transaction closes, which is expected in the first quarter of 2017.
SANTA CLARA, Calif., and Eindhoven, Netherlands, January 3, 2017 - Intel has
agreed to purchase a 15 percent ownership stake in HERE, a global provider of
digital maps and location-based services, from HERE's current indirect
shareholders: AUDI AG, BMW AG, and Daimler AG.
In conjunction with Intel's acquisition of a stake in HERE, the two companies
also signed an agreement to collaborate on the research and development of a
highly scalable proof-of-concept architecture that supports real-time updates of
high definition (HD) maps for highly and fully automated driving. Additionally,
the two companies plan to jointly explore strategic opportunities that result
from enriching edge-computing devices with location data.
"Cars are rapidly becoming some of the world's most intelligent, connected
devices," said Brian Krzanich, Intel CEO. "We look forward to working with HERE
and its automotive partners to deliver an important technology foundation for
smart and connected cars of the future."
"A real-time, self-healing and high definition representation of the physical
world is critical for autonomous driving, and achieving this will require
significantly more powerful and capable in-vehicle compute platforms," said
Edzard Overbeek, HERE CEO. "As a premier silicon provider, Intel can help
accelerate HERE's ambitions in this area by supporting the creation of a
universal, always up-to-date digital location platform that spans the vehicle,
the cloud and everything else connected."
The proof-of-concept architecture HERE and Intel plan to deliver will be
designed to help make autonomous driving as safe and predictable as possible.
For example, today's navigation technology can pinpoint a car's location to
within meters, but next generation, HD mapping supports localization to within
centimeters. This will help vehicles precisely position themselves on the
roadway to enable reliable autonomous driving functionality. HERE HD Live Map,
HERE's cloud service supporting vehicle automation, gives vehicles the ability
to "see" obstacles beyond their immediate field of vision and receive real-time
updates as environments change due to traffic, road conditions and other
factors.
Intel will also work with AUDI AG, BMW AG and Daimler AG to test the
architecture. Intel and HERE envision making the architecture broadly available
across the automotive industry as a seamlessly integrated offering that
simplifies and shortens time of development for automakers.
A Shared Commitment to Autonomous Machines
Intel is positioned to provide a secure, flexible and scalable technology
foundation for the future of autonomous driving from the vehicle to the data
center. Intel's assets span: high performance and flexible, in-vehicle
computing; robust cloud and machine-learning solutions; and high speed wireless
connectivity. In addition to furthering Intel's efforts in autonomous driving,
the next generation location services that result from this collaboration can
fuel the continued growth of cloud computing and the Internet of Things.
HERE is a private company, which is indirectly wholly owned by AUDI AG, BMW AG
and Daimler AG. HERE is a global provider of embedded navigation solutions. By
working with Intel, HERE aims to offer automakers a universal solution that
reduces both complexity and long-term development costs. Intel also provides
expertise in developing and optimizing hardware, which will be fundamental to
moving cloud-based algorithms to in-vehicle architectures. This same expertise
will support HERE's strategy to connect multiple industries beyond automotive,
such as in Internet of Things where location algorithms and location-based
services are increasingly becoming embedded into connected devices. Intel and
HERE intend to explore other potential collaborative opportunities spanning
next-generation cloud analytics, IoT applications, machine learning, augmented
reality and more.
Transaction Details and Timing:
The transaction is expected to close in the first quarter of 2017, after
obtaining regulatory approvals. Intel will nominate Doug Davis, senior vice
president and general manager of the Automated Driving Group (ADG) at Intel to
HERE's Supervisory Board of directors once the transaction is completed.
About Intel
Intel (NASDAQ: INTC) expands the boundaries of technology to make the most
amazing experiences possible. Information about Intel can be found
at newsroom.intel.com and intel.com.
About HERE
HERE, the Open Location Platform company, enables people, enterprises and cities
to harness the power of location. By making sense of the world through the lens
of location we empower our customers to achieve better outcomes - from helping a
city manage its infrastructure or an enterprise optimize its assets to guiding
drivers to their destination safely. To learn more about HERE, including our new
generation of cloud-based location platform services, visit http://360.here.com
and www.here.com.
Intel and the Intel logo are trademarks of Intel Corporation in the United
States and other countries.
*Other names and brands may be claimed as the property of others.
CONTACTS:
Cara Walker
Intel Media Relations
+1 503-696-0831
cara.walker(at)intel.com
Mark Henninger
Intel Investor Relations
+1 (408) 653 9944
mark.h.henninger(at)intel.com
James Etheridge
HERE Media Relations
+49 1511 0041241
james.etheridge(at)here.com
Dr. Sebastian Kurme
HERE Media Relations
+49 173 515 3549
Sebastian.kurme(at)here.com
Press Release in PDF format:
http://hugin.info/171640/R/2068636/776903.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HERE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.01.2017 - 19:01 Uhr
Sprache: Deutsch
News-ID 515588
Anzahl Zeichen: 7597
contact information:
Town:
Berlin
Kategorie:
Business News
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