Garmin challenges TomTom with $3.3 billion bid for Tele Atlas

Filed under:

Man, it must feel mighty fantastic to be Tele Atlas right about now. Not even a month after TomTom finalized a whopping $2.5 billion offer to take the map maker over, Garmin — which currently relies on NAVTEQ maps — has come out swinging with a staggering $3.3 billion bid of its own. As expected, Tele Atlas is now taking a good hard look at both offers and examining its options, and some analysts are even suggesting that a bidding war could take the figure even higher. ‘Course, such a conjecture is easy to make when TomTom has already proclaimed that it would reply in some way “in the near future.” Bust out the blank checks — this one could get ugly (or very pretty, if you’re a Tele Atlas shareholder).


Read | Permalink | Email this | Comments

Office Depot Featured Gadget: Xbox 360 Platinum System Packs the power to bring games to life!