Feeds

Garmin trumps TomTom bid for TeleAtlas

Hardware guys battling for content - plus ça change

Intelligent flash storage arrays

Satnav hardware heavyweight Garmin has gone head to head with rival TomTom in a bidding war for control of Dutch map data provider TeleAtlas.

Reuters reports that Garmin has entered the lists hoping to win the favour of TeleAtlas with an offer of €24.50 per share, topping TomTom by 15 per cent. TomTom offered €21.25/share in July.

Garmin said its offer would be launched on 4 December, just as TomTom's is set to expire, and specified that the deal was only good in the event of more than two-thirds of TeleAtlas being for sale. The US bidders said financing was lined up.

Garmin's €24.50 share price values TeleAtlas at €1.8bn in total.

The satnav/mapping market has seen consolidation recently, with Nokia (whose latest smartphones include GPS) buying Navteq - TeleAtlas' main competitor in the mapping database biz - for $8.1bn. Satnav-enabled devices are sometimes sold without any onboard map information initially, as its cost is typically more signifcant than that of the receiver hardware itself.

"A combined company will expand Garmin's ability to serve more customers... by offering a broad range of solutions," according to Garmin's statement.

Map data is available to users for free via services such as Google Maps - installable on many phones and PDAs - but this requires a data connection which can be expensive to use, intermittently available and/or slow. Such services, too, can be difficult to integrate with GPS location hardware. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.