Intel (INTC) to Acquire 15% Stake in HERE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here. Intel (NASDAQ: INTC) 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…


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