Printed from http://www.electronista.com

Garmin withdraws bid for map firm, giving TomTom OK

updated 11:05 am EST, Fri November 16, 2007

Garmin Skips TeleAtlas Bid

GPS device maker Garmin today withdrew its bid to buy map supplier Tele Atlas for $3.3 billion, opening the door for its primary rival TomTom to make its own deal. The latter firm made its own bid first in July but has since been outbid by Garmin, which claims it has been determined to prevent its competitors from acquiring all the map suppliers themselves and leaving Garmin with no choice but to license GPS maps from a rival. Finland's cellphone manufacturer Nokia recently bought out another major map provider, Navteq, to supply navigation for its smartphones.

No explanation has been given for the sudden withdrawal, though Garmin's truce in the bidding war is very likely to be connected to a recent patent dispute settlement between Garmin and TomTom that saw both companies halt lawsuits against each other in exchange for unknown compensation that may include allowing TomTom to buy Tele Atlas. Garmin does not use Tele Atlas maps for most of its GPS navigators and today renewed an agreement with Navteq.



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

Patriot Supersonic Rage XT 128GB USB drive

USB thumb drives are getting larger by the day, their growth speeding along with the availability and expansion of memory chips. But h ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Sponsor

toggle

Most Commented

 
toggle

Popular News