TomTom Wins Deal to provide Volvo motors With Maps, facts

TomTom Wins Deal to provide Volvo motors With Maps, facts

TomTom Wins Deal to Provide Volvo Cars With Maps, Data

TomTom , the Dutch navigation agency, said on Wednesday it had won a settlement to offer Volvo carswith actual-time maps and traffic records for its motors.

terms have been not disclosed, but the contract is a prime win for TomTom, which competes with Google Maps and right here, the former Nokia unit now owned by Audi, BMW and Daimler.

TomTom, as soon as recognized primarily for dashboard-hooked up GPS systems, has won a string of contracts for its mapping era, which it believes will play an critical role as car using becomes more and more automated.

other TomTom clients include Volkswagen, Uber and Apple.

TomTom’s stocks are down more than 30 percent thus far this year, declining sharply throughout the January market promote-off and once more in February after issuing a forecast for five percent incomegrowth in 2016 that fell short of marketplace expectations.

© Thomson Reuters 2016

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