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HERE Technologies announced that Mitsubishi Corporation (MC) and Nippon Telegraph and Telephone Corporation (NTT) of Japan are to jointly acquire a 30% ownership stake in the company. The companies are co-investing in HERE via their newly established, jointly owned holding company COCO Tech Holding B.V. in the Netherlands. The transaction is expected to close in the first half of 2020, subject to regulatory approval. The parties have agreed not to disclose the financial details of the transaction. HERE is a location data and technology platform, providing a development environment (HERE Workspace), a data exchange (HERE Marketplace), map creation and visualization capabilities (HERE Studio) and a set of location services (HERE Location Services). These capabilities leverage the Reality Index, a rich source of location contextual data that captures relationships between places and things. The company has more than 9,000 employees across 56 countries. www.here.com
