HERE Technologies has announced that it has entered into a strategic partnership with Mitsubishi Corporation (MC) of Japan. Through the partnership, HERE plans to play a role in various strategic initiatives in Japan and other markets in Asia Pacific. These include deploying HERE technology in several projects to address customer needs in transportation and logistics and other industries, such as (1) making truck logistics and last-mile delivery more efficient; (2) optimizing delivery routes and capacity management for middle mile logistics; (3) supporting smart city initiatives with an emphasis on reduction of traffic congestion; and (4) enabling better mobile navigation systems and location-based advertisements in airports and entertainment facilities.
As part of their collaboration, MC is also planning to leverage the HERE location platform to support its own digitalization initiatives. MC is a conglomerate with businesses in many industries, including industrial infrastructure, materials, urban development, automotive, mineral resources, and chemicals.
"We are excited to partner with Mitsubishi Corporation and bring our location technology to new markets and industries," said Edzard Overbeek, CEO, HERE Technologies. "Our joint partnership is proof of how different data sets enabled with location intelligence can drive growth, cost efficiency and innovation for customers across multiple industries."
HERE has been growing its presence in Asia Pacific. Its commitment to the region includes the recent extension of the HERE Workspace along with a suite of HERE Location Services into Japan.
The appeal and necessity of location data and technology across geographies and industries is also reflected in the company's diversifying shareholder structure. On December 20, 2019, HERE announced that MC and Nippon Telegraph and Telephone Corporation (NTT) plan to jointly acquire a 30% ownership stake in HERE. The transaction is expected to close in the first half of 2020, subject to regulatory approval.
END