Navigon, a navigation software provider, has acquired digital map specialist Navteq’s navigation software business including all production software assets and development personnel to create automotive navigation software and software development toolkits that support a variety of platforms and media.
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Navteq, a provider of digital map data for vehicle navigation and location-based solutions, established its software development business during the mid-1990s to foster market growth. With the navigation industry rapidly expanding, Navteq decided it could best serve the demands of automakers and their consumers by focusing on enhancing its core navigable map data products.
“After careful evaluation, we determined Navigon was in a better position to support and further develop the navigation software business based upon the company’s established automotive relationships and proven ability to deliver and support quality products for a diverse customer base,” said Ed Marcheselli, director, software, for Navteq.
“Our companies have worked together strategically for many years, and we view this transaction as beneficial for both Navigon and Navteq.”
While Navigon has made important contributions to the future of vehicle navigation through previous collaborations with the global automotive industry, the acquisition significantly strengthens Navigon’s abilities in the automotive category.
“We expect this acquisition will be an important part of an industry-wide convergence for the infotainment platform, helping carmakers to bring new and innovative features into the car faster and more cost effectively,” said Andreas Hecht, Navigon’s general manager for the Americas.
