by Mike Masnick
Mon, Mar 3rd 2008 4:59pm
You may recall just how well GPS-device maker Garmin played the acquisition game last last year, forcing its main rival, TomTom to spend much, much more than originally intended in a deal for map maker Tele Atlas. Every step that Garmin took seemed to work to its advantage, first raising the bid for Tele Atlas, forcing TomTom to nearly double its bid, then buying up some Tele Atlas shares on the open market so that it's actually making a profit when it sells those shares to TomTom, and finally signing a long term deal with Tele Atlas competitor Navteq (which Nokia is acquiring). Following all this, Garmin must be giddy to find out that the EU has objections to the TomTom purchase which will force the company to make concessions. These objections won't scuttle the deal completely, but will (of course) make it somewhat less than what TomTom hoped it would be. Garmin must be thrilled.
If you liked this post, you may also be interested in...
- Pirate Party MEP Julia Reda: EU Preparing 'Frontal Attack On The Hyperlink'
- How The EU's Proposed New 'Privacy' Rules Will Be A Tool For Massive Censorship
- EU Parliament Calls On EU Countries To Drop All Charges Against Snowden, Protect Him From Extradition
- Know Your Troll: Innovative Display Technologies Targeting Any Company That Creates A Product With An LCD Screen
- TomTom Kicks Off FUD Campaign Against 'Dangerous' Open Source Mapping