#HERE got money injection in exchange for 10% of its shares

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.