Apple thinking of Acquiring TomTom
Well, after the incident on Monday regarding the Australian Police saying that using Apple Maps could be potentially “life threatening” I don’t blame them.
TomTom has been around for a while, and they’re also one of Apple’s main partners in providing data to its Maps App. Robabobank analyst Hans Slob went on to say today that,
“there is a 30 percent chance Apple seeks to takeover TomTom in trying to make quicker improvements to its controversial new Maps app”
“TomTom needs the cash from Apple, and Apple needs the know-how of TomTom,” according to Slob, estimates are that Apple would be willing to pay a price of as much as 10 euros per share for the supplier.
TomTom climbed 7.2%, an eight-week high, to 4.12 euros today, and it currently sits at a value of approximately 906 million euros ($1.18 billion USD).
Kevin is an Online and Mobile Marketing Strategist who has worked with companies of all sizes over the last 6 years. You can follow Kevin on any of the social platforms below.
