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Chicago, IL – NAVTEQ on Wednesday, Dec 12, announced that its stockholders have approved the previously announced merger agreement entered into with Nokia at the special meeting of stockholders held earlier today.

Over 75% of the issued and outstanding shares of common stock eligible to vote, representing over 99% of the total votes cast at the special meeting, were voted in favor of the adoption of the merger agreement.

Adoption of the merger agreement by NAVTEQ stockholders satisfies one of the conditions to completion of the merger between NAVTEQ and Nokia. Completion of the merger is also subject to receipt of regulatory approvals and the satisfaction of the other closing conditions set forth in the merger agreement. More at Navteq.

BRUSSELS, Belgium — Nov 30, ‘07 — EU governments agreed Friday to jointly complete the development of the much-delayed Galileo satellite navigation project after mollifying Spain, which had demanded a bigger stake in the venture, the AP reported.

Spain was the lone holdout in a 26-1 vote at an EU meeting on moving ahead with the $5 billion undertaking.

In seeking unanimity, the EU later won Spain’s approval with a deal that said a secondary ground station - planned for Spain to monitor emergency services on Galileo channels - may one day be a full-blown ground control station if Spain pays for that upgrade.

The European Commission set a Dec. 31 deadline for final approval of the satellite program. When completed, by 2013, it is expected to rival the American global positioning system, which also is satellite-based.

On Nov 23, EU governments agreed to a taxpayer bailout for the project, several months after a consortium of private companies walked away from it in a financing dispute. Most of the €2.4 billion ($3.56 billion) needed to complete the project will come from unspent funds originally earmarked for agriculture

Brussels — Nov 28, ‘07 — The European Commission has opened a detailed investigation under the EU merger regulation into TomTom’s proposed acquisition of Tele Atlas, both of The Netherlands.

TomTom produces portable navigation devices (PNDs) and Tele Atlas is one of two producers of navigable digital maps, a crucial input for PND manufacturers.

The Commission’s initial market investigation has indicated that the proposed merger raises serious doubts with regards to vertical competition concerns. A decision to open an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has until 17 April 2008 to take a final decision on whether the proposed transaction would significantly impede effective competition within the European Economic Area (EEA) or a significant part of it.

Tom Tom is active in navigation software and manufacturing of PNDs and is the market leader in the EEA. Tele Atlas is one of only two producers of navigable digital maps offering a complete coverage of Europe and North America (the other being U.S firm Navteq).

After a preliminary review, the Commission has identified serious doubts that the acquisition by TomTom of Tele Atlas might, in the light of the duopoly market for navigable digital maps and TomTom’s strong position on the market for PNDs, lead to a significant impediment of effective competition within the EEA.

Navigable digital maps are essential inputs for producers of PNDs. The proposed acquisition raises vertical competition concerns because TomTom acquires one of the current two map suppliers that provide maps for the whole of Europe. The Commission’s in-depth investigation will focus, inter alia, on assessing whether the transaction would increase the costs of other PND manufacturers for navigable digital map or limit their access to these maps, and as a consequence harm consumers. More at European Commission.

BRUSSELS, Belgium — Nov 23, ‘07 — The European Union’s troubled Galileo satellite navigation system will be financed from leftover EU funds, EU ministers decided Friday, after Germany and three other countries that had opposed the arrangement relented.

Most of the €2.4 billion ($3.56 billion) the EU says is needed to complete the project will come from unspent funds originally earmarked for agriculture, officials said. Some €300 million (US$445 million) was also earmarked to launch the EU’s new technology and innovation institute, meant to rival the Massachusetts Institute of Technology.

The decision means Galileo — which nearly folded after a consortium of private companies tasked with developing it failed to make progress — will be completed. It is to give Europe its own satellite navigation, ending its dependency on the U.S.-run Global Positioning System.

Germany got on board after the EU’s executive Commission proposed new tender rules meant to ensure the multibillion-euro project is not dominated by a single company.

In Berlin, a German Transport Ministry spokesman welcomed the Commission proposal, saying it would secure competition and could lead to benefits for German companies.

A source close to EU Transport Commissioner Jacques Barrot said the project segments would include satellites, launchers, ground mission infrastructure and control, system software, and other tasks.

There would be the possibility of two tenders to build 26 satellites that make up the system, which is expected to have 30 satellites in total. “The bidder will have to put an offer for all 26, but then we will contract only for a first batch of 10, for example,” the source said.

AMSTERDAM, Netherland – Nov 18, ’07 – Two days after Garmin dropped its effort to buy Tele Atlas NV, TomTom NV said it would begin an offer of $43.88 a share for the digital-mapping company.

The other global map maker, Navteq, has agreed to be acquired by cell phone manufacturer Nokia Oyj for $8.1 billion.

The period in which Tele Atlas shareholders can tender their shares will begin on Nov. 19 and end on Dec. 18, the companies said in a joint statement on Sunday.

Tele Atlas will hold an extraordinary shareholders meeting on Dec. 7 to discuss the offer.

TomTom Press Release:

“With reference to the press release of 7 November 2007, TomTom NV and Tele Atlas NV hereby jointly announce that TomTom is making a recommended public cash offer for all of the issued and outstanding ordinary shares with a nominal value of EUR 0.10 each in the capital of Tele Atlas.

Highlights
- The Offer is a cash offer for all the issued and outstanding ordinary shares in the capital of Tele Atlas of EUR 30.00 per Share.
- The acceptance period commences at 9:00 hours, Amsterdam time (3:00 hours New York time) on 19 November 2007 and will end at 15:00 hours Amsterdam time (9:00 hours New York time) on 18 December 2007, unless extended.
- Tele Atlas will convene an extraordinary general meeting of shareholders to be held on 7 December 2007 during which the Offer will be discussed.
- The Boards fully support the Offer and recommend the Offer to all Shareholders for acceptance.
- A condition to the Offer is that the number of Shares tendered for acceptance under the Offer, together with the Shares that are held at that time by the Offeror, represents at least 80 per cent. of all issued and outstanding Shares as set out in the Offer Memorandum.

The Offer
TomTom is making the Offer, subject to the terms and restrictions contained in the offer memorandum dated 18 November 2007.

Shareholders tendering their Shares under the Offer will be paid, under the terms and subject to the conditions and restrictions contained in the Offer Memorandum, in consideration of each Share validly tendered and delivered (geleverd) a cash amount of EUR 30.00.”

More at TomTom, Tele Atlas.

Cayman Islands — PR Newswire — Nov 16, ‘07 — Garmin Ltd. announced today that its subsidiaries, Garmin International Inc and Garmin Corporation, have signed a six-year extension to their agreement with NAVTEQ, a leading provider of digital map data for location based solutions and vehicle navigation.

The agreement allows Garmin to continue using NAVTEQ data through 2015, with an option to renew for an additional four-year period. In addition, the parties have agreed to pursue expanded points of cooperation that will result in improved mapping quality and coverage worldwide, and will drive further device innovation into the future. The parties did not disclose specific details of the agreement.

“Garmin has partnered with NAVTEQ for many years. We utilize their map data in the majority of our products and we have always appreciated their commitment to the market,” said Garmin CEO Dr. Min Kao. “Extending our agreement with NAVTEQ ensures the availability of quality mapping data for our customers, and provides a basis for enhanced cooperation which is a win-win for both Garmin and NAVTEQ. We believe the outcome creates the best value for Garmin, our customers, and stakeholders.”

In addition and with reference to the press release dated October 31, 2007, Garmin also announced today that in light of these developments it does not intend to pursue its offer for Tele Atlas N.V.

Garmin is a leading, worldwide provider of navigation, communications and information devices with subsidiaries in the United States, Canada, Taiwan, the United Kingdom, Germany, France, Brazil and Singapore with pending acquisitions in Denmark, Italy and Spain. More at Garmin.

SAN FRANCISCO–(BUSINESS WIRE)–October 23, ‘07 — Palm and Garmin, today announced a Palm GPS Navigator featuring Garmin Mobile XT software for the first time. Drivers using the new GPS Navigator with their Palm smartphones can rely on turn-by-turn, voice-prompted directions to easily find their destinations as well as millions of points of interest, updated traffic, fuel prices, hotel prices and weather forecasts. Expected late November, the Palm GPS Navigator featuring Garmin software will be available for $249.

Garmin Mobile XT is preloaded on a microSD card (with miniSD and standard SD card adapters) that includes Garmin navigation software for the United States, Canada and Puerto Rico. Garmin’s map data is provided by NAVTEQ.

More at BusinessWire

San Francisco, CA (NAVTEQ CTIA Booth #615) – October 22, 2007 – Traffic.com, a NAVTEQ company, and a leading provider of traffic solutions to consumers and businesses, today launched TrafficOne Mobile designed to meet the needs of wireless carriers, mobile content providers and application developers.  An extension of Traffic.com’s popular TrafficOne online website offerings, TrafficOne Mobile consists of easy-to-integrate, packaged solutions to deliver high-quality, personalized real-time traffic information across popular mobile platforms.

-Java: A downloadable J2ME or BREW application provides a rich graphical interface and visually compelling 3D multimedia traffic reports
-Mobile Messaging: SMS and Multimedia Messaging Service (MMS) alerting capabilities allow for push or pull delivery
-Mobile Web: A Wireless Application Protocol (WAP) site provides quick and easy real-time traffic via any wireless browser
-Voice: An Interactive Voice Recognition hotline provides cell phone users with automated toll-free and hands-free access to traffic information

TrafficOne Mobile solutions are available as a suite or as individual modules and are offered with flexible branding and revenue model options. By adding TrafficOne Mobile to TrafficOne, Traffic.com customers are able to offer their users on-the-go access to personalized traffic information.

More at Navteq

According to Nokia press release, Nokia and NAVTEQ today announced a definitive agreement for Nokia to acquire NAVTEQ.  Under the terms of the agreement, Nokia will pay $8.1 billion net of NAVTEQ existing cash balance.

More at Nokia…