TomTom acquires Tele Atlas

Tomtom

Tomtom announced that they have accepted to buy the digital mapping company Tele Atlas for$2.77 billion in cash. Tele Atlas are the world’s second-biggest producer of maps will allow TomTom to deliver real-time updates on routes to its more than 10 million navigation devices, the companies said.

After the two merge Tele Atlas will continue its business as a separate unit in the combined group specializing in developing and licensing digital map products.

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