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- Mar 4, 2008
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- TomTom Model(s)
- Go Comfort
Tele Atlas Purchase
Tele Atlas Purchase
On 23 July 2007, TomTom made a ?2 billion offer for Tele Atlas, a digital map maker, which was accepted by the Tele Atlas board.[6] This was then trumped by a ?2.3 billion offer from Cayman Islands-based rival Garmin on 31 October, 2007, effectively initiating a bidding war for Tele Atlas.[7] TomTom responded by upping their bid to ?2.9 billion, an offer which was again approved by the board of Tele Atlas.[8] Garmin had been expected to counterbid once again: with Tele Atlas' main global rival Navteq subject to a takeover bid from Nokia, the company had stated that it did not wish both companies to fall into the hands of rivals.[8] However, after striking a content agreement with Navteq through the year 2015, Garmin withdrew its takeover offer, clearing the way for TomTom.[9] On December 4, 2007, TomTom shareholders approved the takeover.[10]
http://en.wikipedia.org/wiki/TomTom
Tele Atlas Purchase
On 23 July 2007, TomTom made a ?2 billion offer for Tele Atlas, a digital map maker, which was accepted by the Tele Atlas board.[6] This was then trumped by a ?2.3 billion offer from Cayman Islands-based rival Garmin on 31 October, 2007, effectively initiating a bidding war for Tele Atlas.[7] TomTom responded by upping their bid to ?2.9 billion, an offer which was again approved by the board of Tele Atlas.[8] Garmin had been expected to counterbid once again: with Tele Atlas' main global rival Navteq subject to a takeover bid from Nokia, the company had stated that it did not wish both companies to fall into the hands of rivals.[8] However, after striking a content agreement with Navteq through the year 2015, Garmin withdrew its takeover offer, clearing the way for TomTom.[9] On December 4, 2007, TomTom shareholders approved the takeover.[10]
http://en.wikipedia.org/wiki/TomTom
