Mitsubishi and NTT completed the acquisition of a 30% stake in HERE.

Mitsubishi and Nippon Telegraph and Telephone completed the acquisition of a 30% stake in HERE Technologies, a provider of location services. Financial terms were not disclosed. The companies have co-invested in HERE via their newly established, jointly owned holding company COCO Tech Holding in the Netherlands. “We welcome Mitsubishi Corporation and NTT as new strategic investors, supporting our long-term growth ambitions and boosting our enterprise value significantly. Both companies recognize the enormous potential for location data and technology to fuel innovation, boost efficiency and sustainability, and ultimately make the world a better place,” Edzard Overbeek, HERE Technologies CEO.