Bosch boosts services business with HERE acquisition

Bosch is acquiring about 5% in digital mapping and location services firm HERE, in a move that could boost the company’s services business. The two companies have agreed not to disclose financial details of the deal, which is expected to be concluded by the end of Q1. Data-based services are already contributing more and more to growth at Bosch. The company’s IT expertise and infrastructure is correspondingly strong: worldwide, Bosch employs more than 20,000 software engineers across 120 locations, including the Philippines, and operates its own IoT cloud. Bosch CEO Volkmar Denner said the company sees possible synergies with data-based services for Industry 4.0, smart homes, and smart cities.