TomTom Buys-out Joint Venture Partner in India

AMSTERDAM — (BUSINESS WIRE) — October 17, 2011 — TomTom today announces it has increased its stake in its Indian joint venture from 90% to 100%. TomTom is committed to drive its Indian business and reap the full potential of this growth market. TomTom has renamed the former joint venture to TomTom India Ltd.

“India has a large untapped car navigation market. By owning TomTom India Ltd 100% we have full flexibility to execute our growth strategy.” says Jocelyn Vigreux, Managing Director TomTom India. “Our recent product introduction of the VIA series of our PND range is a great first step and we look forward to continue to develop bespoke products for the Indian market, like points of interest for landmark navigation”.

India has a population of 1.2 billion and 22 million cars on the road. New car sales are forecast to grow to 4 million by 2015. In addition, due to the strong economic growth we expect the demand for high-quality TomTom solutions and maps to increase significantly over the coming years.

No financial details will be disclosed.

- END -

About TomTom N.V.

Founded in 1991, TomTom (AEX:TOM2) is the world’s leading supplier of in-car location and navigation products and services focused on providing all drivers with the world’s best navigation experience. Headquartered in Amsterdam, TomTom has over 3,500 employees and sells its products more than 40 countries.

Our products include portable navigation devices, in-dash infotainment systems, fleet management solutions, maps and real-time services, including the award winning TomTom HD Traffic.

For the world’s most up-to-date route planner, including live traffic information please visit www.tomtom.com/livetraffic

For further information, please visit www.tomtom.com



Contact:

TomTom
Corporate Communications
Kristina Nilsson
+31 20 757 5194
Email Contact
or
Investor Relations
Richard Piekaar
+31 20 757 5194
Email Contact
or
For the world’s most up-to-date route planner, including LIVE traffic information visit:
www.routes.TomTom.com
or
Follow us on Twitter @TomTomCorporate.com




Review Article Be the first to review this article
Featured Video
Jobs
SOC Logic Design Engineer for Global Foundaries at Santa Clara, CA
Technical Support Engineer for EDA Careers at Freemont, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Sr. Staff Design SSD ASIC Engineer for Toshiba America Electronic Components. Inc. at San Jose, CA
ASIC FPGA Verification Engineer for General Dynamics Mission Systems at Bloomington, MN
Principal Engineer FPGA Design for Intevac at Santa Clara, CA
Upcoming Events
DVCon 2017 Conference at DoubleTree Hotel San Jose CA - Feb 27 - 2, 2017
IoT Summit 2017 at Great America ballroom, Santa Clara Convention Center Santa Clara CA - Mar 16 - 17, 2017
SNUG Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Mar 22 - 23, 2017
CDNLive Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Apr 11 - 12, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy