Intel will acquire 15% Here before the end of the quarter

Confirming the preliminary information on this, Intel announced the acquisition of 15% of the company Here, serving as a provider of digital maps and services associated with the location, for cars and IoT devices.

Thus, the current owners of the service Here, formerly belonging to Nokia, was not against the participation of Intel in its development. Audi, BMW and Daimler look forward to working with Intel to develop «highly scalable architecture that will support map updates high definition in real time.» The intent of the partners, this opportunity will demand a self-governing automobiles. In addition, the planned learning opportunities, which will create a new architecture, in relation to the IoT, and machine learning.

The transaction amount was not named. The transaction is expected in the current quarter. Here then add your Intel representative in the list of candidates for inclusion in the Supervisory Board of Directors.

Source: Intel

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