Navteq to buy traffic.com for $179M

Nov 6, 2006 gps navigation, misc news

navteq.jpgNAVTEQ today announced it has agreed to acquire Traffic.com, a leading provider of personalized traffic information in the United States for an equity value of approximately $179 million. The acquisition of Traffic.com will provide NAVTEQ with proprietary traffic content, as well as the technology and expertise to deliver that content to a wide variety of customers across multiple industries.

Today, Traffic.com offers real-time customized traffic reports in 50 metropolitan areas and is a critical data component of NAVTEQ Traffic. Traffic.com had fiscal 2005 revenue of $43.3 million. The Company currently has approximately 650 employees in 22 locations. Traffic.com’s growing list of customers includes AOL, Microsoft, The Weather Channel®, Comcast, Garmin and XM Satellite Radio.

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