The German digital map offers full coverage, is fully navigable and includes house number ranges and postal codes. It covers almost 1.1 million kilometers and 66,000 cities and villages. AND already offered navigable digital maps for Belgium, Bulgaria, Croatia, Germany, Luxembourg, the Netherlands, Slovenia and Turkey.
"The release today of a turn by turn map of Germany is the first step towards releasing all of Western Europe. AND looks at doing so by 2008. The U.S. will be released in 2009”, said Maarten Oldenhof, CEO of AND to GPS Business news. “Thanks to our proprietary technology, our customers gain both access to a map and to the software allowing them to completely edit the map characteristics. This technology is also made available at a fraction of the costs of our competitors”, he added.
AND technology is not based on field survey but on processing multiple sources (aerial views, government databases, etc.) in its facility in India. The company expects to compensate the lack of field surveyor by enabling a community of users to update and improve its map data; it recently launched an online version (map20.org) of its Netherlands map for this purpose.
A target for acquisition?
AND is listed on the Euronext stock exchange with a market capitalization of €50 million. Its stock price has doubled since the beginning of October due to the Nokia bid on Navteq and TomTom intent to acquire Tele Atlas. One month ago AND has retained ThinkEquity Partners, a financial advisor based in San Francisco, to assist in evaluating potential strategic alternatives for the company. “We believe that AND is in a unique position to further enhance and accelerate value creation", said Maarten Oldenhof.