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SpatialNews.com Press Release
Tele Atlas Acquires PPWK GeoInvent
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GENT, Belgium--Oct. 7, 2005--Tele Atlas, a leading global geographic content provider, today announced that it has signed a definitive agreement to acquire Warsaw-based PPWK GeoInvent, a pioneer in mobile mapping systems. The company was acquired for 6.5 million Euros in cash and assumed liabilities.
Tele Atlas President and COO George Fink said that following a longstanding alliance with PPWK GeoInvent in Europe, the acquisition will deliver significant benefit to Tele Atlas customers and partners worldwide.
"This acquisition builds on our focus to continually use technology to advance quality, coverage and content. PPWK GeoInvent's mobile mapping system is the first to fully integrate a multidimensional view of a road. It speeds the data capture and map update process, which helps Tele Atlas to quickly deliver high quality maps that incorporate data, images and other valuable local content to customers and partners around the world."
PPWK GeoInvent's mobile mapping system uses a series of still and movie cameras, attached to a mobile van, that captures a detailed, 360-degree digital view of a road. The system captures specific road details, such as traffic restrictions, lane counts and speed limits, as well as actual images of streets, storefronts, road signs and complex intersections. As a result, portable and in-car navigation system users have a rich combination of content to help them find a destination, and safely navigate through complex or dangerous intersections along the way.
Tele Atlas' map database is the foundation for many of the world's leading personal and in-car navigation systems, mobile and Internet map applications. The company uses a sophisticated network of thousands of sources to regularly update its maps, enabling it to cost effectively deliver a highly accurate view of an ever-changing world to partners and customers. The PPWK GeoInvent system is the latest addition to that network, which includes aerial photography and information from government agencies, public utilities, fleet trucks, postal services and Tele Atlas drivers.
Stefan Dunin-Wasowicz, CEO of PPWK GeoInvent, said "We are proud our innovative, Polish technology will now advance navigation around the world. Tele Atlas had the vision for mobile mapping early on, and PPWK GeoInvent developed technology to further it. Now we're advancing map creation together to new frontiers."
Through the acquisition, Tele Atlas also gains approximately 50 employees and two PPWK GeoInvent offices in Warsaw and Lodz.
About PPWK GeoInvent
PPWK GeoInvent is a spatial information engineering company focused on developing innovative solutions for geo data collection, data models for localization services, and data models supporting engineering and spatial planning. The company offers services in the field of GIS (teledetection, data collection, geo-coding, NMT analysis and modeling) and is the worldwide leader in integrated mobile mapping technology.
About Tele Atlas
Founded in 1984, Tele Atlas is a leading provider of digital maps and dynamic location content for a variety of navigation, location-based services and geospatial products and database solutions. The company's database is a highly accurate reproduction of today's street network, enabling turn-by-turn route guidance on a high percentage of European, US and Canadian roads. Tele Atlas' compatibility with major navigation systems and its open system design have made the company's technology adaptable to both consumer and business-to-business applications. From logistics to marketing to traffic and fleet management, in almost every sector of today's business and consumer world, Tele Atlas has built a reputation as an acknowledged pioneer and leader in the digital map industry. For more information, visit www.teleatlas.com.
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