Tuesday, November 07, 2006
Consolidation In Traffic Navigation: NAVTEQ To Buy Traffic.com
(This deal was announced yesterday)
Navteq to Buy Traffic.com for $179MMonday November 6, 4:56 pm ET, AP
Car Navigation Systems Maker Navteq Buying Traffic Info Provider Traffic.com for $179 Million
CHICAGO (AP) -- Navteq Corp., which makes navigation systems for cars, said Monday it is buying traffic information provider Traffic.com for $179 million in cash and stock.
The company said the acquisition will give it proprietary traffic content with the technology to deliver it.
Navteq will pay $47 million in cash and issue 4.1 million shares of its stock to finance the deal, which is expected to cut into 2007 earnings by 11 cents to 17 cents per share and add to net income by 2009...read more:
here11/07/2006 02:59:00 PM
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