Feeds

Garmin vs TomTom bid battle for Tele Atlas hots up

Fighting for virtual territory

Build a business case: developing custom apps

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. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.