It looks like the European Union isn’t too happy with TomTom regarding its intention to purchase the EU’s biggest map supplier Tele Atlas. Calling the bid “anti-competitive”, the EU sent TomTom a “statement of objections”, but while it slows down the process it doesn’t mean the deal is dead. TomTom will have until May 5 to come up with a way to remedy the situation.
The GPS manufacturer is looking to buy Tele Atlas in order to move beyond the hardware and software they’re known for as profit margins are expected to decline in the coming years.
Via Reuters
