NAVTEQ Announces Agreement to Acquire T-Systems TrafficNovember 21, 2008
Acquisition is an important step in NAVTEQ's European traffic offering and extends the company's global capabilities.
CHICAGO, IL /PRNewswire/ -- NAVTEQ, a leading global provider of digital map data for location-based solutions and vehicle navigation, has agreed to acquire T-Systems Traffic GmbH (T-Traffic), a leading provider of traffic services in Germany. The acquisition marks another important step in NAVTEQ's dedicated effort to expand its content-rich, high-quality traffic information into Europe.
T-Traffic is a provider of traffic services in Germany, with approximately 55 employees, central to European navigation because of its large user base and home to many leading automotive companies. T-Traffic's traffic services include data from private traffic sources. T-Traffic has been a provider of traffic information in Germany including major PND and automotive customers. T-Traffic specializes in the development of high-quality traffic products and navigation services for the automotive and telecommunications industries.
T-Traffic holds technologies related to all primary forms of traffic flow data collection, including community and probe sourced traffic data, cellular network data, and fixed sensor networks. These technologies complement NAVTEQ's existing capabilities that have been successfully deployed in North America. NAVTEQ intends to incorporate T-Traffic extraction and processing capabilities into the development of best-in-class traffic worldwide. When used together with community and probe based traffic data sourced from navigation devices and cellular telephones, this technology will enable rapid rollout of traffic solutions around the world.
T-Traffic also provides telematics and capabilities that complement NAVTEQ's connected services. Connected services are essential to making the NAVTEQ map easy to access and work with.
"This acquisition supports our efforts to bring best-in-class traffic to Europe and expand our traffic processing capabilities worldwide," commented John MacLeod, executive vice president, NAVTEQ Connected Services. "T-Traffic has an expertise in the extraction and processing of probe and community-sourced traffic data that will be integrated into NAVTEQ's global traffic processing system. It also has traffic information that will play a critical and immediate role in expanding NAVTEQ's traffic offerings in Europe."
"T-Traffic capabilities are a natural extension of NAVTEQ's traffic capabilities and will complement its other technologies," said Werner Biet, managing director, T-Systems Traffic. "Germany is a key area for NAVTEQ Traffic and we will remain focused on the extraction of cellular network data for use as traffic information."
The acquisition is subject to customary closing conditions and is expected to be completed in 2009.
About T-Systems Traffic
T-Systems Traffic ("T-Traffic") is a leading German provider of dynamic mobility services. Its premium traffic information service TMCpro delivers near real-time data about traffic flow and road conditions in Germany. Based on this information, mobile navigation devices redirect drivers around traffic obstructions and help them arrive in time and relaxed. Drawing on its vast experience and expertise as an early telematics pioneer in Germany, T-Traffic possesses technologies to collect and process traffic data from source networks such as privately owned fixed sensors, mobile fleets or cellular phones. As a partner of the automotive and telecommunications industries, T-Traffic develops high-quality products and services that enable highly reliable traffic solutions for businesses and consumers.
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 3,800 employees located in 194 offices and in 42 countries. NAVTEQ is a fully-owned subsidiary of Nokia Corporation.
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. We make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Developing and growing our offering of consumer Internet services, as well as our enterprise solutions and software, is a key area of focus. We also provide equipment, solutions and services for communications networks through Nokia Siemens Networks.
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