TomTom Buys out Joint Venture Partner in Indonesia

25/10/2011 - 10:20

TomTom announces it is strengthening its position in the Indonesian market by buying out its joint venture partner PT Navindo. Consequently, TomTom increases its ownership from 75% to 100% in PT Tele Atlas Indonesia. This step underlines TomTom´s commitment to making its presence in Indonesia a success and exercise more flexibility in its local operations. The company will be renamed PT TomTom Indonesia.

"This decision is important for TomTom to further strengthen our presence in APAC, providing us with good growth potential for our automotive and licensing customers. We will continue to invest in the quality of our global map database, in our navigation technologies and our leading traffic service," says Maarten van Gool Managing Director Licensing.

No financial details are disclosed.

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About TomTom N.V.

Founded in 1991, TomTom (AEX:TOM2) is the world´s leading supplier of in-car location and navigation products and services focused on providing all drivers with the world´s best navigation experience. Headquartered in Amsterdam, TomTom has over 3,500 employees and sells its products more than 40 countries.

Our products include portable navigation devices, in-dash infotainment systems, fleet management solutions, maps and real-time services, including the award winning TomTom HD Traffic.

For the world´s most up-to-date route planner, including live traffic information please visit www.tomtom.com/livetraffic

For further information, please visit www.tomtom.com