Thursday, November 20, 2008

NAVTEQ(R) to Acquire T-Systems Traffic GmbH

NAVTEQ, a leading global provider of digital map data for location-based solutions and vehicle navigation, has agreed to acquire T-Systems Traffic GmbH (T-Traffic), a leading provider of traffic services in Germany. The acquisition marks another important step in NAVTEQ's dedicated effort to expand its content-rich, high-quality traffic information into Europe.

T-Traffic is a provider of traffic services in Germany, with approximately 55 employees, 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. T-Traffic has been a provider of traffic information in Germany including major PND and automotive customers. T-Traffic specializes in the development of high-quality traffic products and navigation services for the automotive and telecommunications industries.

T-Traffic holds technologies related to all primary forms of traffic flow data collection, including community and probe sourced traffic data, cellular network data, and fixed sensor networks. These technologies complement NAVTEQ's existing capabilities that have been successfully deployed in North America. NAVTEQ intends to incorporate T-Traffic extraction and processing capabilities into the development of 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 rapid rollout of traffic solutions around the world.

T-Traffic also provides telematics and capabilities that complement NAVTEQ's connected services. Connected services are essential to making the NAVTEQ map easy to access and work with.

"This acquisition supports our efforts to bring best-in-class traffic to Europe and expand our traffic processing capabilities worldwide," commented John MacLeod, executive vice president, NAVTEQ Connected Services. "T-Traffic has an expertise in the extraction and processing of probe and community-sourced traffic data that will be integrated into NAVTEQ's global traffic processing system. It also has traffic information that will play a critical and immediate role in expanding NAVTEQ's traffic offerings in Europe."

The acquisition is subject to customary closing conditions and is expected to be completed in 2009.

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