Internet group Tencent, mapping services provider NavInfo and Singaporean state-owned investment firm GIC have agreed to jointly acquire a 10% stake in US-based intelligent mapping technology producer Here.
Launched by communications technology manufacturer Nokia, Here combines data from sources such as devices, vehicles and infrastructure to allow users to build personalised and intelligent real-time maps.
Here was acquired by a consortium of automotive manufacturers Audi, BMW and Daimler for $2.8bn in December 2015. The amount paid by Tencent, NavInfo and GIC, the former two of which will help Here expand in China, has not been disclosed.
Edzard Overbeek, chief executive of Here, said: “Our intention has been to broaden our shareholder base to reflect how location intelligence will fuel invention and expansion across different industries in all parts of the world.”