Spending money on a third rate mapping company. For whatever reason Intel likes to spend money on acquisitions but too cheap to buy the market leaders. Chalk this one as another waste of money that will ultimately fail
Never heard of German company HERE
Just download HERE to your mobile phone and try using it asti your primary map app for a couple of days. If you are not furious how crap the app is, you must be high or something...
Intel bought 15%, so it's a minority investment, not an acquisition. That just means Intel will lose less in the end.
To me, this sounds like one of their worst acquisitions. I say that because I feel like the self-driving car fad is going to end up with a horrid car accident, killing 1 or more people. Then the lawsuits.
So the cost to acquire, the cost of the lawsuit(s), and the cost to dump the company.
/start sarcasm
Another great deal!
/end sarcasm
What is the price?
The 85th one has gotta be the charm, right!?
You'd think after 84 acquisitions (google: Intel acquisitions list) and every single one a failure that someone would get a clue over the years! Have there been post-mortems to understand how/why Intel s---s at acquisitions in general and what needs to be fixed? No. Shows just how unjustifiably egotistical and disconnected from reality Intel management is.
This Intel move reeks of desperation. "Here" is an attempt to stay relevant in an industry they are woefully behind and have no chance of winning long term. Desperate measure for desperate times I guess. (Deck 3 is below water...)
It's early, but this smells like another I'll-advised acquisition. Intel may want to revisit what it's mission/vision are and the strategy to achieve them. From my vantage point, Intel seems to be randomly buying niche companies without any kind of long-term plan. These activities may keep M&A busy for awhile but it isn't what'll help Intel break out on any major way.
You have never heard of HERE? Anyone with even the most basic clue about map services knows that company.
I wonder what you think who the market leader actually is or what purpose HERE is supposed to fulfil, but I am quite sure that your answers to both of these questions would be dead wrong.
The fact that you do not know HERE does not mean that it is a bad deal. In fact it is good deal for Intel because Intel now works together with two of the most powerful family clans in Germany and in addition with Daimler.