Intel has bought the mobile navigation software maker Telmap, writing a cheque for between $300 and $350 million.
Telmap CEO Oren Nissim said the deal would close before the end of the year. It would see Telmap will become a wholly-owned subsidiary of Intel.
Nissim told Reuters that it was jolly nice when a giant and says "We really like what you're doing, we believe in your strategy, we want to enhance and go forward." Which is odd really because that is not what Jonah said when he was eaten up, nor any of Jaws' victims.
He said that teaming up with Intel will enable Telmap to provide a "true alternative" to offerings from giants such as Nokia and Google. Intel said that Telmap will become much bigger and reach places it hasn't before. This includes Europe, Asia-Pacific or the United States. The company will remain based in Israel.
Published in News
Intel buys Telmap
by Nick Farrell on04 October 2011
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Wrote cheque for $300 million