Semiconductor maker Intel paid an undisclosed amount for a 15% stake in US-based geolocation technology provider Here on Tuesday, buying shares from carmakers Audi, BMW and Daimler.
Here was built by communication technology provider Nokia, which sold the entity to the automotive companies in 2013 for $2.8bn. Its technology can be used to create advanced and intelligent maps.
Intel’s investment, which comes shortly after internet company Tencent, mapping services provider NavInfo and investment firm GIC jointly acquired a 10% stake in Here, was made alongside the formation of a research collaboration to develop high definition maps that are updated in real time for autonomous driving.
Edzard Overbeek, chief executive of Here, said: “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.
“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.”