TomTom Buying Holland’s Ilocal To Boost Points-Of-Interest Database
TomTom still has money to spend on buying mapping services after laying down €2.7 billion for TeleAtlas two years back.
SEE ALSO: Garmin And TomTom Get Lost As Smartphones Begin To Offer More GPS Features
It’s buying ilocal, a business directory in its native Holland that also operates in Belgium. No price disclosed.
The interesting thing about ilocal - unlike TeleAtlas, which offers data on actual streets, ilocal is a web-based listings service. Says TomTom, in its announcement: “This technology will complement TomTom’s existing in-house and third party sourced Points of Interest datasets which in turn will enrich the quality of our navigation content.”
ilocal’s service looks comprehensive, but the European market for small-biz listings and user-gen reviews is getting crowded - it’s a space Google (NSDQ: GOOG) is growing in and local newspapers want to regain ground in.
There’s still room, though, for many of these startups to get acquired, as not just satnav makers but handset makers also look to boost their geo-data credentials. Nokia (NYSE: NOK) recently acquired its map maker Navteq for its big tilt at the sector.
Posted In: Mobile, Money, M&A & Venture Capital, Mergers & Acquisitions
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