Navteq, a leading global provider of digital map data for location-based solutions and vehicle navigation, have signed an agreement to acquire T-Traffic, a leading provider of traffic services in Germany. The transaction is subject to customary closing conditions and is expected to be completed in 2009.
T-Traffic complements Navteq‘s existing capabilities. Navteq intend to incorporate T-Traffic extraction and processing competence into its global traffic processing system. T-Traffic also has traffic information that will play a significant role in expanding Navteq’s traffic offerings in Europe. T-Traffic also provide telematics and other services that will enable Navteq’s connected services easy to access and work with.
T-Traffic’s 54 employees provide traffic services in Germany, 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. The company develop traffic products and navigation services for the automotive and telecommunications industries, and provide traffic information in Germany to major PND and automotive customers.