Garmin drops TeleAtlas bid; sticks with NAVTEQ map data

Nov. 20, 2007

Garmin (www.garmin.com) has withdrawn its $3.3 billion bid for TeleAtlas (www.teleatlas), presumably leaving the way clear for archrival TomTom (www.tomtom.com) to acquire the map data provider.

Garmin has withdrawn its $3.3 billion bid for TeleAtlas, presumably leaving the way clear for archrival TomTom to acquire the map data provider. Garmin has opted to extend its agreement with NAVTEQ through 2015 with an option to continue through 2019.

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