TomTom: to explore strategic options for telematics unit
(CercleFinance.com) - TomTom said on Thursday it would explore strategic alternatives for its telematics business, dedicated to fleet management and connected car services.
After several expressions of interest and following a diligent review over the summer, the Dutch navigation company decided to explore strategic alternatives for the unit, which may result in a sale of the division, it said.
Barclays supports the group in this evaluation.
"We believe a new strategy might be laid out during third-quarter results (16 October)," analysts at UBS reacted in a note.
Indeed, a disposal would help TomTom to focus on maps, navigation software and real-time traffic information and services, as well as developing 3D lane-level high definition (HD) maps for automated driving systems, from driver assistance to autonomous driving.
Also note that businessman Derk Haank, a former executive board member of Reed Elsevier, was appointed as a new member of TomTom's supervisory board at yesterday's extraordinary general meeting in Amsterdam.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
After several expressions of interest and following a diligent review over the summer, the Dutch navigation company decided to explore strategic alternatives for the unit, which may result in a sale of the division, it said.
Barclays supports the group in this evaluation.
"We believe a new strategy might be laid out during third-quarter results (16 October)," analysts at UBS reacted in a note.
Indeed, a disposal would help TomTom to focus on maps, navigation software and real-time traffic information and services, as well as developing 3D lane-level high definition (HD) maps for automated driving systems, from driver assistance to autonomous driving.
Also note that businessman Derk Haank, a former executive board member of Reed Elsevier, was appointed as a new member of TomTom's supervisory board at yesterday's extraordinary general meeting in Amsterdam.
Copyright (c) 2018 CercleFinance.com. All rights reserved.