TomTom Not Giving Away Map Secrets
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TomTom is taking over Tele Atlas, but wants to assure worried customers of that company that they won’t be revealing any information about existing customer maps.
[blockquote]
Dutch navigation device maker TomTom (TOM2.AS: Quote, Profile, Research) sought on Tuesday to assure customers of digital map maker Tele Atlas (TA.AS: Quote, Profile, Research) that their trade secrets would be safe once TomTom buys the company.
The European Commission is concerned TomTom’s 2.9 billion euro ($4.2 billion) takeover of Tele Atlas could harm competition and is scrutinizing the deal. U.S. competition authorities approved the planned deal in October.
Tele Atlas and its bigger U.S. rival Navteq (NVT.N: Quote, Profile, Research), which is being acquired by mobile phone maker Nokia (NOK1V.HE: Quote, Profile, Research), are the only two major makers of digital maps for car-navigation devices.[/blockquote]
This is just one of the issues facing the takeover.
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