Tele Atlas N.V., the providers of digital map data and other geographic content, has announced that it has entered into an agreement to transfer its Indian technical center to Infotech Enterprises, Ltd. in an all cash transaction. The transaction, which is expected to close within four to six weeks, will significantly boost mapping flexibility and capacity while maintaining the highest quality content for Tele Atlas’ customers.
Tele Atlas will also take an equity interest in Infotech in the form of ownership of Infotech’s publicly traded common stock. George Fink, Tele Atlas President and Chief Operating Officer, will join Infotech’s board of directors.
Infotech will take control of the Tele Atlas facility in Noida, India immediately, and will operate that facility in fulfilling its commitments to Tele Atlas. Tele Atlas has committed to purchase a minimum of 2.5 million hours of services over the next three years.