Tom Tom to buy supplier

25 July 2007
More news

26 July 2007 | Helen Gilbert

Satellite navigation systems maker Tom Tom is to buy its main map supplier Tele Atlas for ?1.8 billion (£1.2 billion).

The bid made by the Dutch firm this week is supported by the board of Tele Atlas, which confirmed it would recommend acceptance of the offer to shareholders.

Tom Tom plans to use its 10 million GPS devices as "map surveyors" to provide more accurate navigation information. The systems will generate automatic feedback that enables them to produce daily map updates and intelligent routing.

Harold Goddijn, chief executive officer of Tom Tom, said: "By integrating customer feedback into the Tele Atlas map manufacturing process, we will be able to considerably enhance the user experience and further increase all Tele Atlas' and Tom Tom's customers' satisfaction."

The anticipated merger is not expected to have any "significant negative consequences" on employment.



SMjul2007

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE