Announced
Completed
Financials
Tags
Minority
Friendly
Acquisition
Private
Single Bidder
Completed
Software
internet of things
digital services
software
Netherlands
Private Equity
Synopsis
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.
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