Printed from http://www.electronista.com

TomTom to buy Tele Atlas

updated 11:50 am EDT, Mon July 23, 2007

TomTom to buy Tele Atlas

TomTom, the maker of popular GPS units like the ONE series, has decided to buy its principal map supplier, Tele Atlas. Reuters reports that the deal is a extremely lucrative one, valued at 1.8 billion ($2.5 billion); for TomTom, the incentive is said to be diversification, since the company's hardware margins are expected to follow the industry into single digits.

Though little known to the public, Tele Atlas is a preeminent company in mapping; aside from TomTom's GPS units, other products that rely on Tele Atlas include Google Maps, and some cellphones created by Nokia. The acquisition will put TomTom in competition with Garmin, the only other corporation to supply maps for its own GPS units.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, if ...

Sponsor

toggle

Most Commented

 
toggle

Popular News