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SpatialNews.com Press Release
NAVTEQ Completes Its Acquisition of T-Systems Traffic, GmbH
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Chicago, IL - January 6, 2008 - NAVTEQ, a leading global provider of digital map data for location-based solutions and vehicle navigation, has completed its previously announced acquisition of T-Systems Traffic, GmbH (T-Traffic), a leading provider of traffic services in Germany. The acquisition marks a significant step in NAVTEQ's program to expand its traffic offering in Europe.
T-Traffic is a provider of traffic services in Germany, with approximately 55 employees. The acquisition will enable the launch of NAVTEQ Traffic(TM), a real-time traffic service already available in the U.S. and Canada, in Germany which is 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 and are already used by major PND and automotive customers.
NAVTEQ will incorporate T-Traffic extraction and processing capabilities into its existing capabilities for 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 rollout of traffic solutions around the world.
"We are committed to an aggressive roll-out of best-in-class traffic services in Europe," commented John MacLeod, executive vice president, NAVTEQ Connected Services. "We expect to quickly launch real-time NAVTEQ Traffic and to expand it throughout Europe. We will also leverage T-Traffic expertise in the extraction and processing of probe and community-sourced traffic data and integrate it into NAVTEQ's global traffic processing system."
About NAVTEQ
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 4,000 employees located in 196 offices and in 43 countries. NAVTEQ is a fully-owned subsidiary of Nokia Corporation.
About Nokia
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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