Amid the fallout from Nokia's recent acquisition of Navteq for $8.1 billion, the bidding war between TomTom and Garmin for Tele Atlas wages on: Tom Tom has upped its bid to $3.57 billion. The offer is 41 percent higher than its bid in July and also tops a bid rival Garmin made recently. Since Tele Atlas and Navteq have a near monopoly on digital maps, both will continue to provide data to competitors. TomTom is Tele Atlas' biggest customer, while Garmin worked primarily with Navteq.
For more on the impending deal:
- read this article from the WSJ (sub. req.)