Teletrac Probe Data to Enhance NAVTEQ Traffic Solutions
In addition to utilizing NAVTEQ map data in their navigation products, Teletrac will be a contributing supplier of GPS probe data for NAVTEQ's exclusive use as a map data and traffic services supplier. The Teletrac real- time probe data feed extends NAVTEQ Traffic probe coverage in the U.S. providing the highest frequency of updating in the industry today. NAVTEQ Traffic products are created from high quality sources such as proprietary and government sensors, proprietary incident data, and probe data that offer comprehensive end-to-end traffic solutions.
"This deal will enhance the products of Teletrac and NAVTEQ and will give us a platform for working together in the future. The quality of NAVTEQ maps and traffic information is the best the U.S. has to offer and our customers can only benefit from their inclusion in the Teletrac offering. In addition, we are delighted to supply NAVTEQ with our high-quality probe data to expand upon their existing traffic data sources," commented Tim Van Cleve, Teletrac COO.
"Teletrac continues to offer innovative solutions for fleet customers, and with the launch of TBT, it is obvious that high quality map and traffic data is critical in premium fleet navigation solutions," stated Roy Kolstad, Vice President and General Manager - Enterprise, NAVTEQ.
TBT provides speed-calibrated, real-time, turn-by-turn, verbal directions to guide drivers to their selected destinations. NAVTEQ map data will provide dispatchers with real-time information on the location and availability status of each fleet vehicle. NAVTEQ Traffic will be offered as an add-on feature to TBT, providing drivers and dispatchers with real-time traffic information.
About Teletrac
Teletrac, Inc., based in Garden Grove, California, is the originator of wireless metro vehicle location systems. The company's products give commercial fleet managers the tools to track their fleets' performance, ensure that their employees are meeting productivity goals and fulfilling the needs of their respective customers. Teletrac's customers include well-known entities such as the Ryder Inc., City of Houston and several national companies such as Builders First Source, Stewart Stevenson, Mr. Rooter, and many other nationally-franchised businesses. Teletrac is a private, wholly- owned subsidiary of UK-based Trafficmaster, Plc, the leading intelligent driving services supplier. For more information, please visit Teletrac on the Web at http://www.teletrac.net.
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has over 3,000 employees located in 168 offices in 30 countries.
NAVTEQ is a trademark in the U.S. and other countries. (C) 2007 NAVTEQ. All rights reserved.
This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. The statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under "Item 1A. Risk Factors" in each of the Company's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document.
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