TomTom puts in $2.5 billion bid for Map Maker Tele Atlas

Giants TomTom the people behind the ever so popular car navigation devices have put in a massive $2.5 billion bid for Map Maker Tele Atlas, Tele Atlas are the people who provide maps for MapQuest for example plus Google Maps and of course many navigation devices.

TomTom puts in $2.5 billion bid for Map Maker Tele Atlas and we can see why because TomTom are the world’s largest manufacturer of car navigation devices, they already currently have accounts for around 40% of Tele Atlas’ business and they say the deal would allow for much improved maps and brand new features for example daily map updates and a much better routing system.

TomTom themselves would actually operate Tele Atlas as an independent business unit of which they would offer maps to many other manufacturers, if all goes well both of these companies will come together by the end of 2007.

Read - Reuters

Get the latest news in our RSS Feed, Newsletter or follow us on Twitter.