Intel, a US-based technology company, has agreed to purchase a 15% stake in HERE, a global provider of digital maps and location-based services.

The technology company will acquire the stake from HERE’s existing indirect shareholders that include companies like AUDI, BMW, and Daimler.

The financial details of the transaction have not been divulged by either company. The transaction is expected to close in the first quarter of this, after obtaining all the regulatory approvals.

"A real-time, self-healing and high-definition representation of the physical world is critical for autonomous driving."

Additionally, Intel and HERE have also signed an agreement to collaborate on the research and development of proof-of-concept architecture that has been designed to support real-time updates of high-definition (HD) maps for highly and fully automated driving.

Intel CEO Brian Krzanich said: “Cars are rapidly becoming some of the world’s most intelligent, connected devices.

“We look forward to working with HERE and its automotive partners to deliver an important technology foundation for smart and connected cars of the future.”

The two companies also intend to explore strategic opportunities that result from enriching edge-computing devices with location data.

HERE CEO Edzard Overbeek said: “A real-time, self-healing and high-definition representation of the physical world is critical for autonomous driving, and achieving this will require significantly more powerful and capable in-vehicle compute platforms.

“As a premier silicon provider, Intel can help accelerate HERE’s ambitions in this area by supporting the creation of a universal, always up-to-date digital location platform that spans the vehicle, the cloud and everything else connected.”

Intel will continue to work with automobile manufacturing companies such as Audi, BMW and Daimler to test the proof-of-concept architecture.