HERE, an ex Nokia business that gave us one of the best free voice navigation apps available today, has been searching for investors for some time. HERE was bought by a concern of German auto makers, which stated that are willing to sell 49% of their shares to gain additional funding for HERE. HERE has announced earlier that has found a new investors in a form of an Chinese company Chinese mapping company NavInfo, internet services giant Tencent, and Singapore-based investment firm GIC that will with combine efforts buy 10% stake in HERE.
This is quite good news since fresh money will push the mapping business even further, but also gives HERE a chance to make some new business opportunities like with Tencent that holds popular WeChat.
Thanks to the NavInfo, HERE will extend its mapping business to China by forming the 50/50 joint venture with this Chinese company, and provide services to various industries. HERE will make HD maps that China can use for development of the autonomous cars.
Good job HERE.