Tele Atlas Announces Formation of Tele Atlas Taiwan Co., Ltd.
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Joint Venture with S&T Creates Newest Asia Pacific Office; Company's Mobile Mapping Van Debuts in Taipei
'S-HERTOGENBOSCH, Netherlands, July 5 /-- Tele Atlas (FSE: TA6, EUNV: TA), a leading global provider of digital maps and dynamic content for navigation and location based solutions, announced today a joint venture with Systems and Technology Corporation (S&T) to form Tele Atlas Taiwan Co., Ltd., an independent entity focused on delivering a complete digital map of the territory for portable, Internet, in-car and wireless navigation systems and applications. Tele Atlas Taiwan also unveiled its first mobile mapping van in the Asia Pacific region in the heart of downtown Taipei.
Formed in 1987, S&T is recognized for delivering automatic vehicle location systems that track mobile assets and producing high quality digital maps of Taiwan. The S&T map database includes 100 percent coverage of the area's street network, covering more than 100,000 kilometers and 95,000 points of interest (POIs).
As part of the agreement, Tele Atlas Taiwan will assume all mapping assets of S&T, including the existing mapping business that produces navigable maps and the data production operation for government and other projects. Tele Atlas Taiwan will also integrate Tele Atlas' most advanced map updating processes into its operations, including data captured from its newly deployed mobile mapping van. Through its roof-mounted 360 degree cameras and laser sensors, the van quickly and efficiently captures information about a road including lane counts, speed limits, and other data, giving Tele Atlas the information it requires to regularly update its maps. The van also collects images of streets, storefronts, road signs, and complex intersections that can be incorporated in maps to help users more easily find locations.
Taiwan is a worldwide leader in delivering electronics goods, including GPS-related products such as personal navigation devices (PNDs). Mio Technology, part of the MiTAC group, is one of the area's largest global suppliers of PNDs. A key Tele Atlas partner since 2006, Mio now holds the number three position in worldwide market share.
"Taiwan is an incredibly advanced market, and as the world's leading supplier of electronics goods, it is also one of the region's fastest growing markets for portable navigation systems and wireless local search applications," said Tele Atlas Asia Pacific Chief Operating Officer Mark Steele. "Forming Tele Atlas Taiwan acknowledges the important role the area plays in the worldwide navigation systems market, and helps us answer growing customer requirements for highly accurate digital maps of Taiwan. The combination of S&T's database and Tele Atlas' global experience and customer base will ensure our joint venture is a success."
"With this joint venture, S&T can leverage Tele Atlas' maps and market strength to enhance our automatic vehicle location system and navigation software in the more than 80 markets worldwide where our systems are currently distributed. It is a combination that will bring benefit to both of us," added S&T CEO Michael Lan.
About Tele Atlas
Tele Atlas delivers the digital maps and dynamic content that power some of the world's most essential navigation and location-based services (LBS). The information is the foundation for a wide range of personal and in-car navigation systems and mobile and Internet map applications that help users find the people, places, products and services they need, wherever they are. The company also works with business partners who trust its digital map data to deliver critical applications for emergency, business, fleet and infrastructure services. Through a combination of its own products and partnerships, Tele Atlas offers digital map coverage of more than 200 countries and territories worldwide. The company was founded in 1984 and today has approximately 2,400 full-time staff and contract cartographers at offices in 24 countries and uses a sophisticated network of professional drivers, mobile mapping vans and more than 50,000 data resources to deliver highly accurate and up-to-date digital maps. Tele Atlas is listed on the Frankfurt Stock Exchange (TA6) and on Euronext Amsterdam (TA). For more information, visit http://www.teleatlas.com/.
About Systems and Technology Corporation (S&T)
Systems & Technology Corporation focuses on improving the safety, security, convenience and efficiency of peoples' daily lives. The company provides the total solution for vehicle real-time tracking, security/rescuer/anti-hijack, fleet management, LBS and vehicle navigation. S&T cooperates with the government, car manufacturers, cash delivery businesses, insurance companies and many GPS application-related fields. S&T has more than 80 agencies worldwide using its customized services. S&T was founded in 1987 and started the development of a digital map of Taiwan in 2000. For more information, please visit http://www.systech.com.tw/
Source: Tele Atlas
CONTACT:Adeline Tan of The Hoffman Agency for Tele Atlas, DID:
(65) 6252 8085, MOBILE: (65) 9745 6345, atan@hoffman.com.sg; or Neethiya Sadagopal of The Hoffman Agency for Tele Atlas, DID: (65) 6252 9195, MAIN:
(65) 6252 2866, nsadagopal@hoffman.com.sg
Web site: http://www.teleatlas.com/
http://www.systech.com.tw/
About the Joint Venture Agreement -- The joint venture agreement entered into between Tele Atlas and S&T provides for the establishment of a new company limited by shares to be named Tele Atlas Taiwan Co., Limited in which Tele Atlas and S&T will have a 70% and 30% shareholding respectively. Upon closing of the transaction, anticipated to be at the end of July 2007, the parties to the joint venture agreement will procure that Tele Atlas Taiwan shall acquire the digital map business of S&T [consideration presumably to be undisclosed]. Closing is subject to satisfaction or waiver of a number of conditions precedent and conclusion of ancillary commercial and other agreements and documents including corporate approvals by S&T and the Investment Commission of Taiwan's Ministry of Economic Affairs.
