On GeoCarta, Roger Hart has been following the story of TomTom’s financial difficulties — lower sales, job cuts, and, most recently, the fact that TomTom lost €989 million last quarter, thanks in no small part to the €1.048-billion writedown of the value of its purchase of Tele Atlas, without which TomTom would have shown a profit. Indeed, TomTom’s purchase of Tele Atlas may have cost it too dearly: it cost an extra €900 million thanks to a bidding war with Garmin. Garmin walked away, but Roger suggests, citing this Kansas City Star article, that Garmin’s loss of Tele Atlas has turned into a long-term win. (Note that the Star is Garmin’s home-town paper, so the boosterism is not exactly disinterested or accidental.)
TomTom’s troubles don’t end there: they’re being sued by Microsoft over eight patents; TomTom rejects Microsoft’s claims. Via Slashgeo.
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