World News: Garmin and TomTom settle patent disputes

World News:  Garmin and TomTom settle patent disputes

Garmin and TomTom have settled their intellectual property disputes, including lawsuits in Texas, Wisconsin, the Netherlands and UK.

Details of the settlements have not been disclosed.

Litigation between the two companies involves alleged patent infringements by both parties.

With the lawsuits out of the way, TomTom and Garmin can concentrate on their latest battle – the bidding war for Tele Atlas.

In July, TomTom offered €21.25 per share to acquire Tele Atlas.

In October, Garmin topped this with an offer of €24.50 per share, valuing Tele Atlas at around €2.1 billion.

Within a week, TomTom submitted a revised bid of €30 per share, raising the value of the deal to approximately €2.9 billion.


Leave a comment

Your email address will not be published. Required fields are marked *