Intel Buys Stake in Here, Supplier of Digital Maps For IoT, Automotive Industry

Intel said it's buying 15 percent of Here, a global provider of digital maps and location-based services for the automotive industry and the IoT. The companies also signed an agreement to collaborate on research and development of a “highly scalable proof-of-concept architecture that supports real-time updates of high definition maps for highly and fully automated driving,” they said a Tuesday news release. They also agreed to “jointly explore strategic opportunities that result from enriching edge-computing devices with location data.” Doug Davis, Intel senior vice president-Automated Driving Group, will join the Netherlands-based company’s supervisory board, the companies said. "Cars are rapidly becoming some of the world's most intelligent, connected devices," said Intel CEO Brian Krzanich. The companies said they hope to close the deal in Q1. Financial terms weren't disclosed.