TomTom and the Kalyani Group, today announced that they have reached an agreement regarding the restructuring of their joint-venture, Tele Atlas Kalyani India Ltd. They have signed a definitive agreement to that effect, with the withdrawal of the Kalyani Group from the JV. Tele Atlas Kalyani India Ltd is responsible for the extensive map-data of India and contributes to the global TA map data offerings.
The take-over of Tele Atlas NV by Tomtom International BV, (TomTom is the world's leading provider of location and navigation solutions) and consequent business realignment of various units of Tele Altas across the world had been discussed between the partners in the Joint Venture. Based on these discussions, it was mutually decided that the Kalyani Group will hand over its entire stake in the Joint Venture to Tele Atlas / Tom Tom. The restructured company will be fully aligned to the global structure of TomTom.
After closure of the transaction, subject to due compliances and statutory approvals, the company will be renamed TomTom India Ltd. and will leverage Tele Atlas’ production platform to further enrich India map and navigable data products with extensive coverage and content.
About TomTom N.V.
TomTom N.V. (AEX: T OM2) is the world’s leading provider of location and navigation solutions. Headquartered in The Netherlands, it employs over 3,000 employees worldwide. Over 45 million people daily use its solutions, be it in the form of dedicated portable navigation devices (PNDs), in-dash car systems or tracking and tracing solutions for fleet management. In addition, hundreds of millions of people use TomTom’s digital maps on the internet or mobile phone. In 2009, TomTom reported €1.5 billion in revenues and a €340 million net cash flow from operating activities. More information about TomTom can be found on www.TomTom.com.
For the world’s most up-to-date route planner, including LIVE traffic information visit:
www.routes.TomTom.com.
About Kalyani Group
Kalyani Group established in mid 1960s, is a leading Indian industrial conglomerate today with interests in Forgings, Automotive components, Engineering Quality steel, Information Systems and other niche segments such as non conventional energy, infrastructure & heavy engineering components. The Group turnover is $2.5 billion and market capitalization of its listed entities exceeds $5 billion.
The Group’s manufacturing presence spans six countries across three continents viz. Asia, North America & Europe. The group has joint venture relationships with some of the world’s leading players such as ArvinMeritor, USA, Carpenter Technology Corporation, USA, Hayes Lemmerz, USA, Gerdau SA, Brazil and FAW Corporation, China. The group places strong emphasis on technology, customer relationships and continuous & sustained development of its over 10,000 strong global human resources.
