Chip maker Intel to take 15 percent stake in digital mapping firm HERE

News Hour:

Chip maker Intel is to take a 15 percent stake in digital mapping firm HERE, a person familiar with the process told Reuters on Tuesday.

A filing to the German cartel office earlier on Tuesday showed that Intel had sought approval to buy a stake in the company, which is controlled by German carmakers Daimler, BMW and Volkswagen.

Intel declined to comment beyond the fact that is was seeking to take a stake in HERE. Last month two Chinese companies and Singapore’s sovereign wealth fund GIC agreed to buy a 10 percent stake in HERE.

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