TomTom acquires Tele Atlas by Ana Maria Ciobanu

The Dutch navigation system, TomTom announced on Monday that it intends to acquire it's main digital map dealer Tele Atlas for two billion euros.TomTom is the world's largest maker of car navigation devices and for Tele Atlas this deal will mean more market share in the US.People say and I've seen it for myself, that if in Europe you make 3-4 right turns you are totally lost, while in New York or other American cities you are in the same spot.Marina Wyatt, financial executive at TomTom, declared an offer of 21,25 euro for each Tele Atlas stock, will be launched soon.The acquisition will ve financed by contracting credits but also cash.Tele Atlas offers maps and data for several digital cartography sites, including Google and Mapquest, and also produces navigation systems for some telephone producers, like Nokia for example.The chief executive at TomTom, Harold Goddijn, said that Tele Atlas will continue to offer maps for the TomTom navigation systems and for the other clients to.The navigation systems producer obtained in the second trimester a net profit of 68 million euros, compared to 38 million euros obtained in the same period an year before.TomTom sales have grown with 37 percent, up to 380 million euros.I think we will soon see TomTom and Tele Atlas taking over the US market because these are the kind of companies very attentive with details and customers, that personalize their services, offer quality services and know what success needs and means.

by Ana Maria Ciobanu for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

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Edited by Zuzana Tylkova