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Japanese self-drive cars map developer to buy rival U.S. startup: Nikkei


(Reuters) - Japanese Dynamic Map Platform plans to acquire Detroit-based for nearly 20 billion yen ($181.1 million) in a bid to cement a stronger position in the burgeoning self driving cars market, newspaper said.

Dynamic Map Platform would acquire U.S. as it seeks a stronger position to challenge Alphabet Inc's and Chinese rivals, said on Wednesday.

The takeover bid was expected to be lodged as soon as Wednesday, reported.

Dynamic Map Platform, which counts some of Japan's top like Toyota Motor, and as investors, declined to comment when contacted by Reuters, while was not immediately available for comment.

Ushr and Dynamic Map Platform plan to invest more than 10 billion yen in collecting road data in and the United States, which will be used by various automakers, said

(Reporting by in Bengaluru; Editing by Stephen Coates)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 04:55 IST