(Reuters) - Japanese map platform developer Dynamic Map Platform plans to acquire Detroit-based Ushr for nearly 20 billion yen ($181.1 million) in a bid to cement a stronger position in the burgeoning self driving cars market, the Nikkei newspaper said.
Dynamic Map Platform would acquire U.S. map startup Ushr as it seeks a stronger position to challenge Alphabet Inc’s Google and Chinese rivals, the Japanese daily said on Wednesday.
The takeover bid was expected to be lodged as soon as Wednesday, Nikkei reported.
Dynamic Map Platform, which counts some of Japan’s top car makers like Toyota Motor, Nissan and Honda as investors, declined to comment when contacted by Reuters, while Ushr was not immediately available for comment.
Ushr and Dynamic Map Platform plan to invest more than 10 billion yen in collecting road data in Japan and the United States, which will be used by various automakers, said Nikkei.
Reporting by Rashmi Ashok in Bengaluru; Editing by Stephen Coates