Everything about Tele Atlas totally explained
Tele Atlas () is a
Netherlands-based company founded in 1984 which delivers digital
maps and other dynamic content for
navigation and
location-based services, including personal and
in-car navigation systems, and provides data used in a wide range of mobile and
internet map applications.
Operations
The company provides maps covering 200 countries around the world, providing mapping data and "Map Enhancement Products" such as
points of interest and address points. Clients of Tele Atlas include makers of
automotive navigation systems as well as mobile and internet companies which provide mapping services. The firm also supplies data to clients in the
public and
private sectors who rely on geographic information.
Bidding war
On
23 July,
2007, a €2
billion offer for the company by navigation system maker
TomTom was accepted by the Tele Atlas board. 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. TomTom responded by upping their bid to €2.9 billion, an offer which was again approved by the board of Tele Atlas. 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 didn't wish both companies to fall into the hands of rivals. On December 4, 2007, TomTom shareholders approved the takeover.
Further Information
Get more info on 'Tele Atlas'.
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