Daimler Acquires Stake in Digital-Mapping Startup What3words

By Max Bernhard Features Dow Jones Newswires

Daimler AG (DAI.XE) has acquired a stake of around 10% in what3words, a digital-mapping startup.

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The German car maker said Wednesday that it is increasing its cooperation with what3words and plans to use the startup's address system in its new compact models.

The company's technology allows customers to identify a specific location using just three words.

"Inputting locations in a simple way makes life easier for our customers and ensures a special experience. For this reason, we will further expand out cooperation with what3words in future and develop new fields of application," said Sajjad Khan, Daimler vice president of digital vehicle and mobility.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

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January 10, 2018 04:37 ET (09:37 GMT)