Rotterdam, The Netherlands, October 10, 2007: AND International Publishers N.V., provider of worldwide digital mapping data, announces that it has retained a financial adviser to assist in evaluating potential strategic alternatives for AND (Automotive Navigation Data). This is in response to recent market developments in the digital mapping sector including the proposed acquisition of Tele Atlas by TomTom, and the more recent offer by Nokia to acquire Navteq.
AND has retained ThinkEquity Partners LLC, headquartered in San Francisco, U.S., as its financial adviser. There is no assurance that this review will result in any changes to the company’s current business plans or lead to any specific action or transaction. The company will disclose further developments regarding the strategic review if and when required.
“We believe that AND has compelling technology and mapping capabilities and therefore is strongly positioned for future growth. However, given the recent strategic activity in the market, we believe that AND is in a unique position to further enhance and accelerate value creation” said Maarten Oldenhof, Chief Executive Officer.