TomTom buys Tele Atlas for $2.77 billion

Jul 23 2007, 3:48am CDT | by Luigi Lugmayr

GPS device maker TomTom agrees to buy digital maps company Tele Atlas for about $2.77 billion.

Tele Atlas is the world's 2nd largest digital maps producer.
By gaining direct control over a maps company, TomTom is supposed to deliver real-time update to its devices. Tele Atlas is supposed to still sell to other GPS companies and operate as a seperate unit.
More details on Bloomberg.

We could see more deals like that though. To own a maps company could become a necessary competitive advantage for GPS device makers. There are not that many to go around. Navteq is the number one maps maker, so maybe they are next.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.