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Business deals

Pioneer unloads Google Maps data supplier to Japan-based fund

Electronics maker to build out car navigation analytics with $270m deal

Increment P, a subsidiary of Japanese electronics group Pioneer, gathers geospatial information in Japan and Southeast Asia and has provided data to Google Maps since 2019.   © Reuters

TOKYO -- Pioneer, a struggling Japanese maker of in-car electronics, will offload a digital mapping subsidiary for an estimated 30 billion yen ($276 million) as the company seeks to develop new income sources.

Increment P, a wholly owned subsidiary that gathers geospatial data in Japan and Southeast Asia, does business with manufacturers of navigation systems and has provided data to Google Maps since 2019. The Tokyo company, which also works on autonomous-driving technology, will be sold to Polaris Capital Group, a local independent buyout fund.

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