Hogan Lovells Advises AUDI, BMW, and Daimler on Acquisition of HERE Maps
04 August 2015
Hogan Lovells has advised on the acquisition of Nokia's digital map unit HERE by a Consortium of AUDI AG, BMW Group, and Daimler AG.
The deal will allow the Consortium to take a pioneering role in using map technology to develop autonomous driving navigation systems, combining it with real-time vehicle data to improve road safety and create innovative new products and services. The knowledge will be to the benefit of all carmakers and their customers. Therefore, with the joint acquisition of HERE, the auto consortium wants to secure the independence of this central service for all vehicle manufacturers and suppliers and customers in other industries.
Led by New York-based partner Bill Curtin, Global Head of the firm's M&A Group, a cross-border Hogan Lovells team served as Co-Negotiation Lead, Intellectual Property, Benefits, U.S. Regulatory, and Due Diligence counsel to the Consortium, and as M&A counsel to Daimler.
M&A partner Bill Curtin was supported by New York partner Audrey Reed, who led on Intellectual Property and Commercial matters, as well as Celine Crowson on Intellectual Property; Carin Carithers on Employee Compensation & Benefits matters; and Brian Curran on U.S. regulatory matters. In Germany, Frankfurt partner Dr. Dietmar Helms advised on the financing for the transaction and Munich-based partners Dr. Steffen Steininger and Dr. Stefan Schuppert advised on Intellectual Property matters.
Commenting on the transaction, Bill Curtin said:
"This is a landmark transaction for three giants of the automotive sector. This deal paves the way for market-leading innovation that will put Audi, BMW, and Daimler on the map in more ways than one. Our team at Hogan Lovells is extremely proud to be associated with such leaders in their field."