|Bid||0.000 x 0|
|Ask||0.000 x 0|
|Day's Range||7.04 - 7.30|
|52 Week Range||5.72 - 9.11|
|Beta (3Y Monthly)||1.45|
|PE Ratio (TTM)||36.45|
|Earnings Date||Apr 17, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.40|
Some of the world’s top urban mobility leaders today unveiled the world’s first comprehensive multi-modal trip planner, a solution to reduce congestion in cities around the world that will enable developers to build richer apps for consumers to get around their cities. Executives from Moovit, a leading Mobility as a Service (MaaS) provider and the world’s #1 transit app, TomTom, the location technology specialist, and Microsoft’s Azure Maps demonstrated the solution that identifies all of the driving, parking, and public transit options, and surfaces them in a single package for map users. Flanked by Moovit Co-founder and CEO Nir Erez and TomTom Managing Director Anders Truelsen, Chris Pendleton, Head of Azure Maps unveiled the solution during his keynote at the MOVE conference at ExCel London.
TomTom expects significant growth in its enterprise, or software, sales in 2019, the company said in an email on Wednesday, following publication of its fourth-quarter results. The company had forecast 15 percent combined revenue growth for 2019 from sales of digital mapping services to carmakers and software customers. Major software customers include Apple, which is building its own mapping system but still uses TomTom for coverage in most areas for Apple Maps, and Microsoft, which this week announced it was expanding its use of TomTom's maps in its Bing and Cortana products.
TomTom warned of weaker-than-expected growth in automotive revenue this year following the sale of its Telematics fleet management business, sending shares in the Dutch navigation company lower. Along with the loss of revenue from Telematics, the company faces a long-term decline in the sales of dashboard-mounted satnav devices. TomTom shares fell 6.3 percent to 7.37 euros in Amsterdam.
TomTom (TOM2) and Microsoft Corp. (MSFT) today announced that they are expanding their partnership, bringing TomTom’s maps and traffic data into a multitude of mapping scenarios across Microsoft’s cloud services. With this broadened integration, TomTom will be a leading location data provider for Microsoft Azure and Bing Maps.
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In such a scenario, data acquisition and its analytics become paramount, compelling businesses to invest heavily in mobility-related technology to make sure they stay relevant. In what can be seen as a definitive step towards bolstering its presence in the "mobility solutions" segment, Bridgestone Europe N.V., a subsidiary of Bridgestone Corporation in the Europe, Middle East and Africa (EMEA) region, has announced its acquisition of digital fleet solution leader TomTom's telematics business for €910 million (approximately $1.033 billion). To understand the strategic importance of this acquisition, one has to understand the telematics market and TomTom's position in it.
TomTom (TOM2.AS) will remain independent and grow its core digital maps business, its CEO said on Tuesday after the company agreed to sell its fleet management business to Japan's Bridgestone for 910 million euros ($1 billion). Amsterdam-based TomTom faces a turning point after Google (GOOGL.O) broke into the market to supply maps to carmakers last year, striking deals with Renault and Volvo and upsetting a duopoly between TomTom and its traditional larger rival HERE. "On the one hand (Google's entry) is scary, but on the other hand it really focuses the mind," said Harold Goddijn, TomTom's founder and CEO, in an interview with Reuters.
It increasingly looks like TomTom NV, once the king of satellite navigation devices, hasn’t decided on either route. Chief executive Harold Goddijn might be considering a third path. The Dutch company said on Tuesday that it would sell its telematics business – the stuff that brings together wireless tech, cars and sensors – to Bridgestone Corp., the world’s biggest tire-maker, for 910 million euros ($1 billion).
TomTom (TOM2.AS) can grow and thrive independently, its chief executive said on Tuesday after the Dutch navigation company announced the sale of its Telematics division representing about half of the company's market value. In an interview with Reuters, Harold Goddijn said that licensing cash flow for its digital mapping business was assured by "anchor customers" including Apple, and growing thanks to increasing use by developers of location-based software applications. "On the one hand that (Google's entry) is scary, but on the other hand it really focuses the mind," he said.
The sale is a big step in TomTom’s shift to location technology as customers ditch the personal navigation devices that made the company a household name in favor of smartphones. In September, the Dutch company said it was exploring a sale of Telematics, which delivers vehicle-related data and intelligence for fleet management and connected car services. Media reports also identified Verizon Communications Inc., Microsoft Corp., Daimler AG, and Michelin as possible bidders for the unit.
TomTom said it will distribute EUR750 million to shareholders by way of a capital repayment, combined with a share consolidation. The deal is expected to close by the end of the second quarter, with the capital repayment to follow in the third quarter, subject to shareholder approval for both measures. Bridgestone said the deal strengthens its Europe, Middle East and Asia division’s digital-technology arm and it intends to support the telematics unit’s current business plans.
Location technology specialist, TomTom (TOM2), today announced that it will accelerate the future of driving by collaborating with DENSO on its software platform for autonomous vehicles. TomTom's High Definition (HD) Map will work in combination with DENSO in-vehicle sensors such as cameras and radars to power the localization, perception and path planning functions for a complete autonomous driving system. This collaboration will allow DENSO to offer a market-leading system targeting Level 2 automation for highways and major urban roads, by leveraging the end-to-end mapping system developed together with TomTom.
TomTom , the location technology specialist, announces that its maps for automated driving are powering over half a million Level 1 and Level 2-enabled automated vehicles on the road today.
TomTom (TOM2), the location technology specialist, today announces that it is collaborating with Delphi Technologies (DLPH), to help powertrains become predictive. The vehicle’s powertrain control system will be enriched with TomTom’s maps so it knows what’s up ahead. Antoine Saucier, Managing Director, TomTom Automotive, comments: “Making every journey safe and comfortable is only one part of the puzzle – making them as efficient as possible is a huge challenge too.
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Market analyst firm, Berg Insight, has recognized TomTom Telematics as the largest provider of fleet management solutions in Europe for the fourth successive year.
The top of TomTom NV’s ranking of the world’s most congested places is dominated by emerging markets. Some of the world’s worst traffic snarls are in South Asian cities not even picked up by TomTom’s ranking, such as Dhaka, Delhi and Karachi. In emerging economies, many cities have reached the point where roads’ carrying capacity is running out.
TomTom today announced that BMW Motorrad owners can now experience the best of TomTom navigation for motorcyclists running on the BMW Motorrad Connected app. The smartphone app stays safely in the rider’s pocket, while visual directions are shown on the bike’s integrated handlebar display.
Digital mapmaking company TomTom (TOM2.AS) will consider whether to go it alone or pursue partnerships if it sells a fleet management business which may account for more than half its current value, its chief executive told Reuters. Dutch-based TomTom, which has a market capitalization of 1.75 billion euros ($2 billion), with no debt and 179 million euros in cash, hired Barclays in September to conduct a review of its "Telematics" division with an eye to possible sale. Working out a fair price for the division, which helps businesses to save money by using software to monitor and improve the performance of their car and truck fleets, might not be straightforward, Chief Executive Harold Goddijn said.