Tele Atlas
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| Tele Atlas NV | |
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| Type | Public (Euronext: TA, FWB: TA6) |
| Founded | 1984 |
| Headquarters | 's-Hertogenbosch, the Netherlands |
| Key people | Alain De Taeye (CEO) Wim Dik (Chairman of the supervisory board) |
| Industry | Geographic information systems |
| Products | Digital mapping data |
| Revenue | €308.0 million (2007)[1] |
| Operating income | ▲ €25.0 million (2007)[1] |
| Profit | ▲ €24.4 million (2007)[1] |
| Employees | 1,700 (2006)[1] |
| Parent | TomTom |
| Website | www.teleatlas.com |
Tele Atlas (Euronext: TA, FWB: TA6) is a Netherlands-based company founded in 1984 which delivers digital maps and other dynamic content for navigation and location-based services, including personal and in-car navigation systems, and provides data used in a wide range of mobile and internet map applications.
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[edit] Operations
The company provides maps covering 200 countries around the world,[2] providing mapping data and "Map Enhancement Products" such as points of interest and address points. Clients of Tele Atlas include makers of automotive navigation systems as well as mobile and internet companies which provide mapping services. The firm also supplies data to clients in the public and private sectors who rely on geographic information.
[edit] TomTom takeover
On 23 July 2007, a €2 billion offer for the company by navigation system maker TomTom was accepted by the Tele Atlas board.[3] This was then trumped by a €2.3 billion offer from Cayman Islands-based rival Garmin on 31 October, 2007, effectively initiating a bidding war for Tele Atlas.[4] TomTom responded by upping their bid to €2.9 billion, an offer which was again approved by the board of Tele Atlas.[5] Garmin had been expected to counterbid once again: with Tele Atlas' main global rival Navteq subject to a takeover bid from Nokia, the company had stated that it did not wish both companies to fall into the hands of rivals.[5] However, after striking a content agreement with Navteq through the year 2015, Garmin withdrew its takeover offer, clearing the way for TomTom.[6] On December 4, 2007, TomTom shareholders approved the takeover.[7] The European Commissioner for Competition cleared the takeover in May 2008,[8] and it closed in June.
[edit] See also
[edit] References
- ^ a b c d Annual Report 2006. Tele Atlas. Retrieved on 2007-10-31.
- ^ The Tele Atlas Advantage. Tele Atlas. Retrieved on 2007-10-31.
- ^ Kanner, Joram; van de Hoef, Marcel. "TomTom Agrees to Acquire Tele Atlas for EU2 Billion", Bloomberg, 2007-07-23. Retrieved on 2007-07-23.
- ^ "Garmin Trumps TomTom Bid for Tele Atlas", Reuters, 2007-10-31. Retrieved on 2007-10-31.
- ^ a b "Digital mapmaker Tele Atlas endorses €2.9 billion TomTom bid", Associated Press, 2007-11-08. Retrieved on 2007-11-09.
- ^ "Garmin Withdraws $3.3B Tele Atlas Bid", Associated Press, 2007-11-16. Retrieved on 2007-11-16.
- ^ Newman, Matthew; van de Hoef, Marcel. "TomTom Wins EU Antitrust Approval to Buy Tele Atlas", Bloomberg, 14 May 2008. Retrieved on 2008-06-03.
