With the close of funding July 6, 2004, Tele Atlas will finalize its acquisition of Geographic Data Technologies (GDT) July 7, 2004.
"We are thrilled to finalize these transactions and are looking forward to bringing together these two great organizations to deliver added benefits and services to our customers and the industry at-large," said George Fink, president and COO of Tele Atlas.
About Tele Atlas
Founded in 1984, Tele Atlas is a worldwide leading provider of digital maps and dynamic location content for a variety of navigation, location-based services and geospatial products and database solutions. Tele Atlas' database is a highly accurate reproduction of today's street network, enabling turn-by-turn route guidance on a high percentage of European, U.S. and Canadian roads. Tele Atlas' compatibility with major navigation systems and its open system design have placed the company's technology at the heart of both consumer and business-to-business applications worldwide. From logistics to marketing to traffic and fleet management, in almost every sector of today's business and consumer world, Tele Atlas has built a reputation as an acknowledged pioneer and leader in the digital map industry. For more information, please visit www.na.teleatlas.com (in North America) or www.teleatlas.com (in Europe).
Tele Atlas Krista Carlson, 650-833-5388 (Public Relations) Email Contact Jasper Vredegoor, +31 73 640 21 70 (Investor Relations) Email Contact