The Latest News on TeleAtlas and TomTom

[Mike L.]

Here's the latest news I found on TT and TeleAtlas:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aHJgNoaAPCkw&refer=home

 

[Nextourer]

In a word, wow.

 

[jombi]

I liked this statement in the article:

TomTom said it will start selling ``noticeably better'' maps within 12 months after completing the acquisition.

you know, by the time my kids buy thier first GPS units (15 years or so) I'm sure they'll have photo realistic views of the street ahead if not realtime video.

Of course the cars will be driving themselves by then so it won't be much more than eye candy

 

[davidalan99]

as of this afternoon
AMSTERDAM, Netherlands: TomTom NV, the Dutch maker of personal navigation devices, said Wednesday it will raise its offer for digital mapmaker Tele Atlas NV to ?2.9 billion (US$4.2 billion), the latest move in a bidding war with larger rival Garmin PLC.

TomTom began the bidding for Tele Atlas in July with a ?2 billion (US$2.8 billion) offer, only to see Garmin respond with a ?2.3 billion offer last week.

Now TomTom said it will rebid at ?30.00 (US$43.44) per share for Tele Atlas.

The use of digital maps is booming, and the apparent worth of Tele Atlas increased sharply on Oct. 1, when Nokia Corp. announced a US$8.1 billion (?5.7 billion) takeover bid for Navteq Corp. ? the only digital mapping company other than Tele Atlas with global operations.

Although Cayman Island-based Garmin buys its maps primarily from Navteq, Garmin said it felt forced to challenge TomTom's bid for Tele Atlas to ensure that Navteq and Tele Atlas don't both fall into competitors' hands