Feeds

Garmin trumps TomTom bid for TeleAtlas

Hardware guys battling for content - plus ça change

The Essential Guide to IT Transformation

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. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.