Rotterdam, The Netherlands: Mapmaker AND announced to set up a Joint Venture with SatNav Technologies. The Joint Venture gives AND the opportunity to further grow presence in an emerging market. AND will offer the digital map of India to existing and new customers all over the world.
AND Chief Executive Officer Maarten Oldenhof said, “India has always been of strategic interest to us, with its largely untapped location-based services (LBS) market. It represents a growing opportunity for us. This Joint Venture now gives us the increased thrust in the region, give more value to our customers.”
According to AND’s press statement, SatNav Technologies will get access to the best mapping technologies in the world from AND and upgrade their Indian map IP in line with the standards followed worldwide. AND will get access to SatNav’s map data of India. The Joint Venture can also be used to do in-house, work that earlier used to be outsourced to other companies in the country.
Amit Kishore Prasad, Founder MD & CEO, SatNav Technologies said, “This is a very strategic Joint Venture which will herald the beginning of SatNav’s efforts at integrating with the global GPS markets.”