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TomTom Acquires Full-Ownership of Africa Business
Thursday 12 July 2018

12 July 2018 - Dutch digital maps provider TomTom is strengthening its position in Africa by buying out the minority shareholders of TomTom Africa Ltd., the company said.

Consequently, TomTom increases its ownership from 76% to 100%.

According to the company, this step underlines TomTom's commitment in providing its partners with high-quality global map and traffic products, and TomTom's trust in the growth potential in Africa for geospatial applications, smart city services, connected navigation and highly automated driving.

Financial details were not disclosed.

TomTom created a navigation device, and is in the design and development of navigation products, software and services, that power hundreds of millions of applications across the globe.

This includes industry- location-based and mapmaking technologies, embedded automotive navigation solutions; portable navigation devices and apps, and the most advanced telematics fleet management and connected car services.

Headquartered in Amsterdam with offices in 37 countries, TomTom offers digital maps that cover 142 countries, and the real-time TomTom Traffic information service reaches more than five billion people in 69 countries. 
Date Published: 12/07/2018
Target: TomTom Africa Ltd
Country: Netherlands
Sector: IT/Online Services
Type: Corporate acquisition
Status: Closed
Buyer: TomTom
TomTom increases its ownership from 76% to 100%