Intel to Acquire 15 Percent Ownership of HERE
January 03 2017 - 1:00PM
Business Wire
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.
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 the 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170103005990/en/
Intel Media RelationsCara Walker, +1
503-696-0831cara.walker@intel.comorIntel Investor RelationsMark
Henninger, +1 408-653-9944mark.h.henninger@intel.comorHERE Media
RelationsJames Etheridge, +49 1511
0041241james.etheridge@here.comorHERE Media RelationsDr. Sebastian
Kurme, +49 173 515 3549Sebastian.kurme@here.com
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