fbpx

TomTom Acquires Full-Ownership of TomTom Africa

July 09, 2018 01:30 AM Eastern Daylight Time

AMSTERDAM–(BUSINESS WIRE)–TomTom (TOM2) announces that it is strengthening its position in Africa by buying out the minority shareholders of TomTom Africa (Pty) Ltd. Consequently, TomTom increases its ownership from 76% to 100%. This step underlines TomTom’s commitment in providing its partners with high-quality global map and traffic products, and TomTom’s trust in the growth potential in Africa for geospatial applications, smart city services, connected navigation and highly automated driving.

Alain De Taeye, Member of TomTom’s Management Board, comments: “Full control of the roadmap for Africa will accelerate our go-to-market of innovative ADAS (Advanced Driver Assistance Systems) and automated driving applications.”

Financial details were not disclosed.

ENDS

About TomTom

TomTom created the easy-to-use navigation device, one of the most influential inventions of all time. Since then, we have grown from a start-up, into a global technology company. We design and develop innovative navigation products, software and services, that power hundreds of millions of applications across the globe. This includes industry-leading location-based and mapmaking technologies, embedded automotive navigation solutions; portable navigation devices and apps, and the most advanced telematics fleet management and connected car services.

Combining our own R&D expertise with business and technology partnerships, we continue to shape the future, leading the way with autonomous driving, smart mobility and smarter cities. Headquartered in Amsterdam with offices in 37 countries, we offer advanced digital maps that cover 142 countries, and our hyper-detailed and real-time TomTom Traffic information service reaches more than five billion people in 69 countries. www.tomtom.com

Contacts

TomTom Media:
Greg Morrison, +31 (0)6 52 59 00 28
greg.morrison
or
TomTom Investor Relations:
ir

(c)2018 Business Wire, Inc. – All rights reserved.

leverton

Content is the most important part of having quality links to your website. With Area-Info.net, we provide a quality location to share your story and include links to your website to help you grow. If you would like to learn more, visit this page to see how you can use Area-Info.net to rank higher and quicker in search engines. Contact me directly at [email protected] with any questions, or to schedule speaking engagements.

You May Also Like