NEW DIRECTION:Beijing Mapbar offers mobile apps, navigation products — such as map search and location query — and transportation planning services
Taipei Times
Date: Nov 07, 2016
By: Staff writer, with CNA
Handset chip designer MediaTek Inc (聯發科) said it is to buy a stake in a Beijing-based map location service provider in a bid to cement its foothold in the automotive chip and the Internet of Vehicles markets.
MediaTek on Friday said that it plans to spend up to US$100 million through its subsidiary Gaintech Co (訊發) to buy a 35 to 49 percent stake in Mapbar Technology Ltd (BVI), which owns Beijing Mapbar Technology Co Ltd (北京圖吧科技).
MediaTek would indirectly hold a stake in Beijing Mapbar if the bid obtains the Investment Commission’s approval.
MediaTek said that Beijing Mapbar, which was set up in 2004, operates www.mapbar.com, which provides online map services in four municipalities in China. [FULL STORY]