TomTom NV
25 Oct, 2011

TomTom buys out joint venture partner in Indonesia

 

Amsterdam, 25 October 2011 – TomTom announces it is strengthening its position in the Indonesian market by buying out its joint venture partner PT Navindo. Consequently, TomTom increases its ownership from 75% to 100% in PT Tele Atlas Indonesia. This step underlines TomTom's commitment to making its presence in Indonesia a success and exercise more flexibility in its local operations. The company will be renamed PT TomTom Indonesia.

"This decision is important for TomTom to further strengthen our presence in APAC, providing us with good growth potential for our automotive and licensing customers. We will continue to invest in the quality of our global map database, in our navigation technologies and our leading traffic service," says Maarten van Gool Managing Director Licensing. No financial details are disclosed.