Garmin Withdraws Tele Atlas Bid, Extends Navteq Agreement
Thwarted in its latter-day attempt to buy digital mapmaker Tele Atlas out from under TomTom, GPS manufacturer Garmin International has signed an long-term deal with rival map provider Navteq.
Under the agreement announced today (November 16) Garmin will extend its current six-year agreement with Chicago, Illinois–based NAVTEQ to access to map data through 2015 with an option to continue through 2019.
By Glen Gibbons