News: 2006 Archived News Items
NAVTEQ to Acquire Traffic.com
NAVTEQ, a leading global provider of digital maps for vehicle navigation and location-based solutions, announced it has agreed to acquire Traffic.com, a leading provider of personalized traffic information in the United States for an equity value of approximately $179 million. The acquisition of Traffic.com will provide NAVTEQ with proprietary traffic content, as well as the technology and expertise to deliver that content to a wide variety of customers across multiple industries. The Board of Directors of each company has approved the agreement.
"Our focus is on enhancing our map with content that brings the map to life and increases the utility and convenience of navigation devices. We have long believed in the value of traffic data and this acquisition is a natural and logical progression for NAVTEQ," said Judson Green, President and CEO of NAVTEQ. "Traffic.com brings a stream of high-quality, proprietary traffic content and a unique technology platform for the delivery of this and potentially other content. Combined, the two companies have the potential to create and deliver advanced dynamic content that will fuel the next generation of location-enabled applications."