PTV AG will provide NAVTEQ with data that quantifies the traffic flow averages for arterial roads within Germany. The data is based on the comprehensive and innovative traffic model developed by PTV, which is continually validated with sensor and probe data. NAVTEQ will use proven proprietary technology to geo-reference, enhance and optimize this data for inclusion in the NAVTEQ Traffic Patterns Germany product.
NAVTEQ Traffic Patterns is a database of average traffic flow velocity for roadways geo-referenced to the NAVTEQ map database. Traffic Patterns provides the foundation for predictive traffic applications, offering developers enhanced alternate route features and more accurate drive time estimates for logistics and navigation products. Consumer navigation devices recently launched in North America, equipped with NAVTEQ Traffic Patterns, now calculate the most ideal route based on time of the day and day of the week as traffic patterns change.
"PTV and NAVTEQ have worked together for many years on a variety of initiatives," noted Hans Hubschneider, CEO and spokesman of the board for PTV AG. "We know that NAVTEQ insists on high quality dynamic traffic data for their European coverage expansion. PTV will help provide insight and local expertise to support this launch."
"NAVTEQ Traffic is a leader in North America, it is our goal to build on this success in Europe by offering innovative products based on agreements with industry leaders like PTV," explained Howard Hayes, vice president for NAVTEQ. "An example of an innovative product using Traffic Patterns is our recently launched 'Fastest Drive Now' feature at www.traffic.com. It calculates the most ideal route taking into consideration time of day, real- time traffic conditions, and historical traffic patterns."
At GSMA Mobile World Congress, February 11-14, 2008, NAVTEQ is demonstrating NAVTEQ Traffic Patterns(TM) capabilities in booth #1G45.
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 more than 3,300 employees located in 167 offices in 31 countries.
NAVTEQ and NAVTEQ Traffic Patterns are trademarks in the U.S. and other countries. (C) 2008 NAVTEQ. All rights reserved.
About PTV, Karlsruhe (Germany)
PTV, the transportation optimization expert, provides cutting-edge software technology and consulting to enable customers to meet their mobility needs. It helps people plan and manage traffic and transportation, provides them with the latest traffic reports and assists them in optimising their long-term resource allocation. Since 1979, the independent corporate group has been a leading provider of products and solutions for travel, traffic and transportation worldwide.
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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