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.