Digital Trends
GPS maker TomTom has turned up the pressure in its efforts to acquire digital mapmaker Tele Atlas, saying it will increase its offer to €30 per share. The new offer represents a major increase over the €21.25 per share the company initially offered for Tele Atlas, and significantly tops the €24.50 per share bid made last week from rival Garmin.
The new bid values Tele Atlas at about €2.9 billion, or about $4.2 billion USD.
Dutch digital mapmaker Tele Atlas has been pursued by Amsterdam-based GPS maker TomTom since mid-year: TomTom announced its intent to aquire the company in July for €21.25 per share—kind of a low-ball bid—and formally announced the offer in early October. The question was whether TeleAtlas shareholders would bite: although Tele Atlas formally endorsed the TomTom offer, Tele Atlas’s shares had been consistently trading above the level of TomTom’s offer, and Nokia’s recent move to acquire competing mapmaker Navteq for some $8.1 billion applied more pressure to the possible deal.
Digital mapping company Tele Atlas announced today that the newly-available Pioneer AVIC Z1 in-car GPS-based navigation system on the TomTom Go 910 incorporate new phonetic data from Tele Atlas to improve the quality of speech technology used by the systems.
If you’ve ever used an in-car GPS or similar device with speech synthesis capabilities, you’ve probably had a few laughs
Quote from the reviews at Digit-Life:
“Maxtor extended the Atlas 10K series with the fourth line of SCSI drives and released the first line of the Atlas 15K series. The drives of this series have the spindle speed of 15,000 rpm. They are not entirely new solutions, but it’s still worth testing their performance. We will compare them with Seagate’s models of the latest generation.”
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