Mapmaker AND announces strategic review

Mapmaker AND announces strategic review
AND Automotive Navigation Data, a global provider of digital mapping data, today announced that it has retained a financial advisor to assist in evaluating potential strategic alternatives for the company. This review comes in response to the recently announced acquisitions of the two biggest digital mapping companies Tele Atlas and Navteq.

"We believe that AND has compelling technology and mapping capabilities and therefore is strongly positioned for future growth. However, given the recent strategic activity in the market, we believe that AND is in a unique position to further enhance and accelerate value creation" said Maarten Oldenhof, Chief Executive Officer.

AND has retained ThinkEquity Partners LLC, headquartered in San Francisco, U.S., as its financial advisor.

AND is listed on the Euronext stock exchange and its market capitalization is around €42 million today. Its revenue was €3.8 million in 2006. AND expects to grow more than 25% in turn over and more than 50% in profit in 2007 and to continue this growth next year.

Watch here our interview with Maarten Oldenhof one month ago.

Wednesday, October 10th 2007

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