Business Standard

Under pressure from Google, TomTom eyes sale of telematics division


AMSTERDAM (Reuters) - TomTom, the Dutch navigation company, said on Thursday it is studying the sale of its telematics division, a secondary but profitable business line in fleet management that had 43.9 million euros ($51.4 million) in sales in the second quarter.
The move comes a week after Google announced a far-reaching deal to supply software including Google Maps to TomTom customer Renault.
TomTom has staked its future largely on its success or failure as a supplier of mapping and navigation technology to car makers.
($1 = 0.8545 euros)
(Reporting by Toby Sterling; Editing by Sunil Nair)

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First Published: Sep 27 2018 | 11:37 AM IST

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