• By Jordan Golson
    Nov 7, 2007 11:24 AM 100
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    More cabs!

    Big Brother is driving cabs off the road in New York
    read more: #biddingwar, #gps, #garmin, #teleatlas, #tomtom, #valleywag

    TomTom raises offer for Tele Atlas to $4.22 billion

    tomtom.pngTomTom, the GPS device maker, has raised its offer for digital mapping service Tele Atlas to $4.22 billion. This is a substantial rise over rival Garmin's prior bid of $3.3 billion. That offer topped a prior one by TomTom for $2.5 billion. The market thinks the purchase price will be driven higher as Tele Atlas's stock price is trading higher than even the latest offer. TomTom has purchased a 28.3 percent stake in Tele Atlas already on the public market. Garmin owns a little over 5 percent of the company.


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