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TomTom Buys TeleAtlas

posted by tprinty on Monday July 23, @11:57AM   Printer-friendly   Email story  Permalink  Trackback URI  Slashdotthis  Diggthis  Del.icio.us
from the oliphant-meets-oliphant dept.
ixcer writes "A joint press release announces that TomTom, the world’s largest navigation solution provider, will acquire Tele Atlas, the biggest data provider for navigation systems, including Google, Yahoo!, AOL and Nokia. The announcement starts this way... "TomTom N.V. (“TomTom”) and Tele Atlas N.V. (“Tele Atlas” or the “Company”), jointly announce that the expectation is justified that an agreement can be reached in connection with a public offer by TomTom for all outstanding shares of Tele Atlas at an offer price of € 21.25 in cash, (the “Offer Price”) per ordinary share (the “Offer”).

The Supervisory Board and the Management Board of Tele Atlas (the “Boards”), after having duly considered the strategic, financial and social aspects of the proposed transaction, support the intended Offer and conclude that the Offer is in the best interests of the shareholders and all other stakeholders of Tele Atlas. The Boards of Tele Atlas will, when the Offer is made by TomTom, recommend acceptance of the Offer by the shareholders of Tele Atlas.""
Update: 07/23 17:41 GMT by S : All Points Blogs provides more links such as the Reuters article.

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The next obvious question is how this impacts the NAVTEQ/Nokia deal...
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