CeBIT News: Road Group acquires majority stake in Geotate

CeBIT News:  Road Group acquires majority stake in Geotate

Led by former NXP executive Hans Streng, Geotate will be headquartered in the Netherlands with major R&D facilities in the UK.

Terms of the transaction were not disclosed.

Geotate is a geo-software company whose solutions enable portable devices to automatically add a geotag to an object without compromising the user experience and the devices' resources.

Geotate's patented approach captures raw GPS satellite signals in the available memory, which are later unlocked via a web-based service. This disruptive technology enables instant, intuitive geo-tagging.

"This investment by Road Group is a great leap forward for Geotate. It offers the company the necessary independence from the silicon-focused business to rapidly expand the business for our software / webservice-based GPS technology," said Streng.

Road Group's co-founder & CEO Ad Bastiaansen said that Geotate is an important to Road Group's strategy, as it brings geo-tagging capability to location based solutions.

According to Road Group co-founder and chairman Roel Pieper, the hardware needed for web-based GPS solutions can be produced at a fraction of the cost compared to traditional GPS, shifting the focus from hardware to connectivity.

"There is an enormous opportunity for community and location based services. We're stepping into the future of the web," concluded Pieper.

Road Group has established its personal navigation brand – MyGuide – in 22 countries over the past few years. The company also holds a majority stake in Germany-based OneStepAhead and an interest in Korea-based Bluebird.

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