Feeds

Garmin vs TomTom bid battle for Tele Atlas hots up

Fighting for virtual territory

Top 5 reasons to deploy VMware with Tegile

In sat nav, as in other forms of consumer technology, content is king. Or at least navigation hardware providers Garmin and TomTom believe so - the bell rings today for round two of their fight to acquire map-data firm Tele Atlas.

Garmin topped TomTom's initial offer last week, but now the Financial Times reports that the Dutch firm has fought back. TomTom has now raised its bid to €30/share, up from €21.25 and beating Garmin's €24.50. At the same time, it has built up a 28 per cent stake in the firm. The new offer values Tele Atlas at €2.9bn.

"We are now well positioned to buy Tele Atlas," TomTom CEO Harold Goddijn told the FT. "We are now their biggest customer and their biggest shareholder."

Garmin and TomTom both want Tele Atlas badly, as it is the only major, global commercial map-data provider they can buy. Navteq was recently taken over by Nokia for $8.1bn. Whichever of the two sat nav makers loses the bidding war will need to buy in mapping for its products from a rival hardware provider, which is unlikely to be much fun.

Unsurprisingly, Tele Atlas shares rose above the offer price in morning trading. Shareholders evidently don't think that Garmin will roll over nicely. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
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?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.