Digital mapping and routing company, TomTom, with its Q3 2018 earnings established a successful transformation to counterbalance the decline of personal GPS devices. However, the Dutch company is facing threats from the tech giants like Apple, and Alphabet/Google, since they are developing and expanding the mapping solutions for the automotive industry.
Is it just Telematics business?
With a healthy net cash position, TomTom is planning to sell its growing Telematics business which accounts for most of its market valuation. But, in a report published by TMTFinance, many parties are considering making a bid for the entire TomTom business instead. The potential buyers listed to acquire the Dutch satellite navigation pioneer are Audi, Daimler, Here Technologies, Trimble and Apple.