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Nov
7
Tomtom raises bid for TeleAtlas outbidding Garmin
Filed Under Uncategorized
Let the bidding wars begin. Tomtom have just raised their bid for TeleAtlas to $4.2 billion after Garmin bid on the map making company last week for $3.3 billion.
There are only two companies that produce quality advanced mapping data, Navteq and TeleAtlas. Gps systems rely on this data to provide the maps in their systems. Navteq was bought by Nokia, leaving TeleAtlas up for grabs. Whoever looses this bid for TeleAtlas will have to get their maps either from Nokia or from a competitor, that’s the main reason for the bidding war.
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