Navteq, which makes navigation systems for cars, is buying traffic information provider Traffic.com for $179 million in cash and stock. The acquisition will give it proprietary traffic content with the technology to deliver it.
Already used as a part of Navteq’s systems, Traffic.com provides customized traffic reports in 50 U.S. metropolitan areas. Traffic.com reported fiscal 2005 revenue of $43.3 million.
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