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

Thecus N2310 NAS

For every computer user, there comes a point of critical mass in data storage. When it hits, external hard drives, USB sticks and DVD ...

iRig Pads

When it comes to mobile music products, IK Multimedia has positioned itself as one of the top suppliers. Right from the early days of ...

DoxieGo Portable Scanner

Sometimes, people need to scan things, but having a computer at hand to do so isn't exactly feasible. Maybe it's the home of a relativ ...

Sponsor

toggle

Most Commented

 
toggle

Popular News