December 20, 2019 / 6:17 AM / a month ago

Japan's Mitsubishi, NTT to buy 30% stake in digital mapping company HERE

Dec 20 (Reuters) - Digital mapping services provider HERE Technologies said on Friday Japan’s Mitsubishi Corp and Nippon Telegraph and Telephone Corp (NTT) would jointly buy a 30% stake in the company.

Mitsubishi and NTT will co-invest in the Amsterdam-headquartered company through their newly established, jointly owned holding company COCO Tech Holding B.V. in the Netherlands, HERE said.

The financial details of the transaction were not disclosed.

In February, HERE partnered with Navinfo Co Ltd to offer location services in China. (Reporting by Anurag Maan in Bengaluru; Editing by Subhranshu Sahu)

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