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NAVTEQ announces acquisition of gedas MapIT in Mexico

NAVTEQ, a global provider of digital maps for vehicle navigation and location-based solutions, recently announced plans to acquire the gedas MapIT business unit in Mexico. gedas MapIT is a digital map provider in Mexico. The acquisition broadens NAVTEQ digital map coverage while creating an efficient local foundation for further expansion. The acquisition of gedas MapIT will provide a geographic product for Mexico in response to customer requests for broader coverage that includes geometry, street names, boundaries and demographic information throughout Mexico. It also includes addressing and additional road attributes for selected areas. The company plans to integrate this new geographic coverage with its existing NAVTEQ map product in 2006. gedas MapIT is a division of gedas Mexico, part of gedas AG, a leading IT services provider owned by the Volkswagen AG. As part of the acquisition, NAVTEQ will be acquiring strong customer relationships in the geospatial, LBS, Online Monitoring/Fleet, telecommunications and online mapping areas as well as a fully staffed production facility in Leon, Mexico and Business Development and Technical facilities/teams in both Leon and Mexico City.