TomTom: Company Says It Will Work With Uber to Provide Users With Digital Maps and Traffic Data:
TomTom will provide users of the Uber driver program with traffic data and digital maps in more than 300 cities all over the world, the Dutch firm said. Fiscal specifics of the deal were not revealed.
Uber said the deal with TomTom will not replace traffic advice it now relies on and it will continue to use various distinct sources for its Uber driver program, including Alphabet Inc.’s Google mapping technology. “We’ve Google, Apple and now TomTom”, a spokesman said.
Uber is trying to strengthen its mapping abilities to accelerate its international growth and as it develops new automotive technologies, including self-driving cars.
SNS Securities analyst Martijn den Drijver said TomTom made Uber an offer “which was likely more appealing than paying [EUR2.5 billion] or more for maps and traffic,” in a reference to Uber’s bid for Nokia Here. The contract is a huge triumph for TomTom as the business may also profit from Uber’s strategy to expand to other marketplaces, Mr. den Drijver said.
TomTom is among the past remaining independent suppliers of digital maps. Analysts have said this could make the Dutch business an expected takeover target for technology firms and car makers seeking to develop self-driving cars.
Almost 8% grew on Thursday in Amsterdam .