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A consortium of German car manufactures made up of Audi, BMW and Mercedes has acquired mapping and location services business Here from Nokia for 2.8 billion Euros (£2bn).
Here uses cloud-based technology to create precise digital maps, which it hopes will assist the development of autonomous vehicles.
The three car makers - which own equal stakes in the firm - said they will use the software to help create new assistance systems, while the precise maps will be used in conjunction with real-time vehicle data in an attempt to improve road safety.
Here said it provides mapping and location services for nearly 200 countries with support for 50 languages.
In a statement, Here said it will continue to "develop its position as a strong and independent provider of maps and location-based services." The current management will continue to run the business.
"The new ownership structure of Here will allow us to accelerate our strategy, further scale our business and fulfill our intent to become the leading location cloud company across industries," said Here president Sean Fernback.
"High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of Here, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries," said Dieter Zetsche, chairman of the board of management at Daimler.
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