| TomTom cleared to purchase Tele Atlas, Garmin shrugs |
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| Written by Administrator | |
| Tuesday, 13 May 2008 21:05 | |
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Filed under: GPS  Despite issuing an early statement of objection, the EC has come around to see the merits of a TomTom / Tele Atlas deal. In fact, the two companies have received "unconditional clearance" from the European Commission for the proposed acquisition. The US already approved the deal in October. Thing is, shareholders better get a move on since the bidding-war-boosted $4.2 billion offer (plus another $300 million thanks to the weakass dollar) made in November is set to expire on May 30th. Although it could be extended. Of course, Garmin made a move for Tele Atlas early on with a $3.3 billion bid of its own. Nevertheless, with TomTom profits heading downward and Garmin"s own, hotly anticipated Nuvifone on the horizon, maybe Garmin will be laughing last after all.Read | Permalink | Email this | Comments
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| Last Updated ( Friday, 16 May 2008 10:50 ) |
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TomTom cleared to purchase Tele Atlas, Garmin shrugs
May 22 2008 11:21:52 ** This thread discusses the Content article: TomTom cleared to purchase Tele Atlas, Garmin shrugs **
Tom Tom realy needs to diversify if they want to compete in the long run with Garmin. They should start to sell and make outdoor units for marine and hiking. Or they should acquire a company with those assets. Buying Teleatlas doesn't give them any huge advantage over Garmin in my eyes. Maybe they will have cheaper units because they own the maps now. hmmm. I like Tomtom units I have a couple friends with them. I'm more of an outdoors person so I lean towards more multi-use units like my Garmin Colorado. |
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