Europe News: NAVTEQ acquires MapSolute for $40m

Europe News: NAVTEQ acquires MapSolute for $40m

Consolidation within the digital mapping industry continues, with NAVTEQ’s acquisition of MapSolute.

With the ink scarcely dry on its agreement to be acquired by Nokia, NAVTEQ has announced that it has acquired German geographical software developer, MapSolute, for around $40 million.

Headquartered in Frankfurt, MapSolute has offices in France, the UK, Finland, Dubai and Saudi Arabia, plus subsidiaries in the US and Brazil.

MapSolute’s business will be fully integrated into NAVTEQ, and its staff will be merged with NAVTEQ’s. MapSolute’s founders, Alexander Wiegand and Thomas Golob, will continue to serve as managing directors of MapSolute.

This acquisition comes at a time when TomTom and Garmin are bidding against each other to buy NAVTEQ’s competitor, Tele Atlas.

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