GPS BUSINESS NEWS

 

Finance & Legal

Alibaba Made $1.58B Offer for Chinese Maps & LBS Vendor AutoNavi - 02/11/2014

Alibaba, China's largest e-commerce firm, offered to buy digital map and LBS vendor AutoNavi for $1.58 billion. The all-cash offering represented a premium of almost 40 percent against the stock price in the recent months. Alibaba, already owns 28...

Mix Telematics Ended 2013 with 428,500 Subscribers - 02/10/2014

South African telematics vendor Mix Telematics has ended up 2013 (Q3 of their fiscal year 2014) with 428,500 vehicles under subscription, up 26 percent. Total subscription revenue in the quarter was $21.0 million, up 25 percent year over year....

TeleNav’s Transition Continues Quarterly Result Show $4m Loss - 02/06/2014

Last week the acquisition of Openstreetmap-based navigation supplier skobbler by TeleNav made the headlines, but the U.S. also announced its financial results for the quarter ended December 31, 2013 (second quarter of TeleNav’s fiscal year 2014)....

Insurance Telematics Supplier Octo Sold for €405m - 02/06/2014

Amadeus Capital Partners, today announced the sale of Octo Telematics for €405 million to Renova Group, a private, multi sector Russian group. Octo was an early pioneer in the telematics sector in Italy and offers solutions for insurance and...

Yelp Turned $233M in Revenue in 2013 - 02/06/2014

Yelp, the North American local search company has released its financial results for the full year 2013 with $233.0 million in revenue , an increase of 69% compared to $137.6 million in 2012.  Net loss for 2013 was $10.1 million compared to a loss...

Telenav Acquires skobbler for $23.8M - 01/30/2014

TeleNav today announced the acquisition of German turn-by-turn navigation software provider skobbler. The acquisition closed on January 29, 2014 for consideration of $23.8 million, consisting of approximately $19.2 million in cash, plus $4.6 million...

Harman’s Automotive Infotainment Sales up 28% - 01/30/2014

Harman’s infotainment division net sales in the second quarter of fiscal 2014 (ended December 31st 2013) were $691 million, an increase of 28 percent compared to the prior year, or 24 percent excluding the impact of foreign currency translation....

HERE (NAVTEQ) Sales of Auto Map Licenses Up 33% in 4Q 2013 - 01/23/2014

Nokia announced today their financial results for the fourth quarter and the full year 2013, offering some visibility into its HERE division, formerly known as NAVTEQ. Automotive map licenses sales have gone up 33% the fourth quarter 2013, with...

Qualcomm Sells Omnitracs Europe to Astrata - 01/14/2014

Astrata Group, a fleet management business headquartered in Singapore, has announced the acquisition of Omnitracs Europe - formerly known as Qualcomm Enterprise Services Europe - from Qualcomm. Financials of the transaction, were not disclosed....

U.S. Government's Report Tackles SatNav Vendors on Privacy Policies - 01/08/2014

The U.S. Government Accountability Office (GAO) issued a report that sheds some light about the lack of clear privacy policies of GPS navigation systems vendors across cars, PND and mobile apps. GAO selected a non-generalizable sample of 10...

Telit Acquires NXP’s Automotive Telematics Onboard unit Platform for $9m - 12/23/2013

Wireless and location module vendor Telit has announced today an agreement to acquire Automotive Telematics Onboard unit Platform (ATOP) business from NXP. The transaction price is $9 million to be settled by approximately $2 million in cash and up...

Transit App Moovit Raised $28m, But Still a Long Road to Go - 12/19/2013

Moovit, the Israeli start-up focussing on crowdsourced transit information today announced that it closed a $28 million round led by Sequoia Capital, with participation from its existing investors BRM Group and Gemini Israel Ventures. “Moovit will...
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