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Intel buys 15% stake in German digital-map co.

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Intel to take stake in German mapping firm HERE in automated driving push

Intel to take stake in German mapping firm HERE in automated driving push*/

– The logo of Intel, the world’s largest chipmaker is seen at their offices in Jerusalem, April 20, 2016.REUTERS/Ronen Zvulun/File PhotoFRANKFURT (Reuters) – U.S. chip maker Intel (INTC.O) will take a 15 percent stake in German digital mapping firm HERE, it said on Tuesday, as it seeks to build its presence in automated driving technology.A filing to the German cartel office on Tuesday showed Intel has sought approval to buy a stake in the company, which is controlled by German carmakers Daimler (DAIGN.DE), BMW (BMWG.DE) and Volkswagen (VOWG_p.DE).
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Intel buys 15% stake in German digital-map co.

Intel buys 15% stake in German digital-map co.*/

– Intel Corp. is acquiring a 15% stake in Here International B.V. for an undisclosed sum, joining the digital mapmaker’s core shareholders BMW AG, Daimler AG and Volkswagen AG’s Audi unit in developing navigation technology for self-driving cars.Intel and Here aim to jointly develop technology needed to support the real-time updates of traffic and road conditions that are used to enable and ensure the safety of fully automated vehicles.The companies also said they plan to explore other business opportunities to develop services that use location data generated by the vehicles and their passengers.
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Intel to acquire 15% stake in German digital mapping company HERE

Intel to acquire 15% stake in German digital mapping company HERE*/

– Intel Corp. INTC, +0.91% said Tuesday it is acquiring a 15% stake in German digital mapping company HERE from current indirect shareholders, Audi AG NSU, -0.54% and Daimler AG DAI, +0.31% The chip maker said the two companies will collaborate on the research and development needed to support real-time updates of high-definition maps that can be used in self-driving vehicles.”Additionally, the two companies plan to jointly explore strategic opportunities that result from enriching edge-computing devices with location data,” Intel said in a statement.Current technology allows a user to determine a car’s location to within meters, but the next generation is expected to work within centimeters.
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