Japan’s Mitsubishi Corporation and Nippon Telegraph and Telephone (NTT) announced they jointly acquired 30% of the Dutch firm HERE Technologies. HERE provides mapping, location data and technology solutions.
The company operates a marketplace for exchanging location-based data. HERE records data such as road networks, buildings, parks, and traffic and sells it to other businesses such as transport and logistics, media, and telecoms companies, including to firms such as Alpine and Garmin.
Mitsubishi and NTT are collaborating to use HERE’s location database to develop services in logistics, urban transportation, retail, finance, and other areas. The goal is to start proofs of concept by the end of the year with logistics partners involved in home delivery and transportation.
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