Amsterdam, 29 April 2014 - TomTom (TOM2) has signed an agreement with Diffusion Artistique et Musicale SAS ("DAMS") to take over DAMS Tracking, the fleet management business of DAMS in France. The transaction is expected to be completed in the coming month and will add 27,000 subscriptions to TomTom Telematics' installed base.
France is the largest addressable telematics market in Europe*, with about 6 million commercial vehicles in use (Light Commercial Vehicles, Trucks and Buses). By combining the strength of existing TomTom Telematics activities with DAMS Tracking, TomTom takes a leading position in this market.
No further financial details of the transaction are disclosed.
*Source: Berg Insight latest report #8 2013 "Fleet Management in Europe"