(Reuters) - AMSTERDAM, July 23 - Dutch navigation systems company TomTom plans to buy its main supplier of digital maps, Tele Atlas N.V. , for 2 billion euros in cash, the companies said on Monday.
TomTom, which also announced quarterly results a week early that showed net profit leaped 81 percent from a year earlier, said it intends to make a cash offer of 21.25 euros per share bid for Netherlands-based Tele Atlas. TomTom will fund the acquisition with debt and cash, TomTom Chief Financial Officer Marina Wyatt told reporters on a conference call.
Read more at Reuters.com Mergers News
TomTom, which also announced quarterly results a week early that showed net profit leaped 81 percent from a year earlier, said it intends to make a cash offer of 21.25 euros per share bid for Netherlands-based Tele Atlas. TomTom will fund the acquisition with debt and cash, TomTom Chief Financial Officer Marina Wyatt told reporters on a conference call.
Read more at Reuters.com Mergers News
No comments:
Post a Comment