NAVTEQ Acquires NAVKEY

Acquisition signals commitment to provide quality map coverage and products for Argentina.

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Aug 23, 2010, 09:00 ET

BUENOS AIRES, Argentina, Aug. 23 /PRNewswire/ -- NAVTEQ, the leading global provider of maps, traffic and location data enabling navigation, location-based services and mobile advertising around the world, announced today that it has acquired NAVKEY, the leading provider of digital map data for the Personal Navigation Device (PND) market in Argentina. The acquisition will provide NAVTEQ with full use and rights to NAVKEY's digital map assets licensed under the NAVIAR brand.

The acquisition will enable NAVTEQ which provides quality navigable maps for 81 countries, including Argentina, to incorporate NAVKEY's digital map data to the global industry leading NAVTEQ® map. The result will be a premier map that enables NAVTEQ customers to develop navigation and location-based applications that not only utilize highly accurate map data, but a variety of products, such as NAVTEQ™ Voice and visual content that enhance the navigation experience.

"The opportunity for development of navigation and location-based services in Argentina is growing exponentially," stated Helder Azevedo, general director- Latin America, NAVTEQ. "By providing customers with high quality products that have the potential to increase the utility of these applications and services we are supporting not only our customers' goals but bringing new levels of experiences to end-users."

NAVTEQ has 30 employees located in Argentina. In addition to collection and production support, technical customer support is available in the Argentine office to assist customers in working with the NAVTEQ map database. Because NAVTEQ standardizes their map database to a single global data specification, customers can more easily reinvest development efforts used for bringing product to market for Argentina into applications to enter markets in other countries. This becomes extremely useful in South America where in addition to Argentina NAVTEQ provides maps for Brazil, Chile, Colombia, French Guiana, Peru, Uruguay and Venezuela.

About NAVTEQ

NAVTEQ is the leading global provider of maps, traffic and location data (digital location content) enabling navigation, location-based services and mobile advertising around the world. NAVTEQ supplies comprehensive digital location content to power automotive navigation systems, portable and wireless devices, Internet-based mapping applications and government and business solutions. The Chicago-based company was founded in 1985 and has approximately 4700 employees located in 204 offices in 46 countries.

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SOURCE NAVTEQ