TomTom to buy map supplier Tele Atlas

Iria · Jul 24, 2007, 03:13 AM

Source: News.com
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TomTom, the world's biggest maker of car navigation devices, plans to buy its main map supplier, Tele Atlas, for 1.8 billion euros ($2.5 billion) to improve the digital maps used by millions of drivers.

By buying one of the industry's main suppliers of digital maps, TomTom is moving beyond hardware where double-digit profit margins are expected to decline in line with other consumer electronics makers, analysts said.

Jul 24, 2007, 03:13 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	TomTom to buy map supplier Tele Atlas Source: News.com __________ TomTom, the world's biggest maker of car navigation devices, plans to buy its main map supplier, Tele Atlas, for 1.8 billion euros ($2.5 billion) to improve the digital maps used by millions of drivers. By buying one of the industry's main suppliers of digital maps, TomTom is moving beyond hardware where double-digit profit margins are expected to decline in line with other consumer electronics makers, analysts said.