Bosch seeks synergies for Industry 4.0 by taking 5% stake in HERE Technologies
Bosch is set to take a 5% stake in digital mapping and location services company HERE Technologies.
The German engineers believes the acquisition will help its data-based services, with Industry 4.0 technologies such as automation in manufacturing and IoT a priority for the company.
HERE's systems are also expected to aid the introduction of self-driving vehicles, though Bosch's leadership insists that the partnership will bring a much wider range of benefits.
"Bosch is more than cars," says Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH.
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"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."
HERE, which has also agreed to an identical stake acquisition from Continental, has produced a mapping service that claims to be accurate to a matter of centimetres. It already has investment from the likes of BMW and Daimler.
Edzard Overbeek, its CEO, added: "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."