BARCELONA, Spain, February 13 /PRNewswire/ --
NAVTEQ (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, announced today an agreement with Telefonica for the cooperative innovation of new mobile traffic products for European markets. This relationship is a milestone in the first phase of NAVTEQ Traffic(TM) presence in Europe, and initial products are targeted for Barcelona and Madrid. NAVTEQ Traffic currently serves the United States and Canada with comprehensive real-time and historical traffic data services and technology.
The agreement provides both organizations with a strong foundation for future product advancements. NAVTEQ Traffic will integrate comprehensive real-time content including sensor, GPS probe, and incident data, and anonymous cell-based probe data will be extracted from Telefonica's mobile communications network. The breadth, detail, and diversity of these data sources will provide maximum coverage and accuracy. Telefonica will provide broad distribution of innovative high-quality consumer solutions to their customers for popular mobile platforms. These products will provide users with real-time roadway conditions reports including average speeds and congestion levels.
"We're committed to working with global leaders, such as Telefonica, in the application of new technologies and the distribution of world class web and mobile dynamic content," said Howard Hayes, Vice President Dynamic Content Services for NAVTEQ. "The growing demand for real-time traffic products internationally provides us with the opportunity to revolutionize mobile information delivery through cooperative innovation."
The companies plan to release their first European consumer products for the Barcelona and Madrid markets this year.
At GSMA Mobile World Congress, Fira De Barcelona, Spain, February 11-14, 2008, NAVTEQ is demonstrating its location content services and solutions in booth 1G45 and Telefonica is featuring NAVTEQ Traffic solutions in booth 8B178 and 8B185.
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 approximately 3,300 employees located in 167 offices and in 31 countries.
NAVTEQ is a trademark in the U.S. and other countries. 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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Web site: http://www.navteq.com
Jennifer Schuh of NAVTEQ, +1-312-894-3913, jennifer.schuh@navteq.com; or Bob Richter, +1-212-802-8588, bob@richtermedia.com, for NAVTEQ ; Photo: http://www.newscom.com/cgi-bin/prnh/20060313/NAVTEQLOGO, AP Archive: http://photoarchive.ap.org, PRN Photo Desk, photodesk@prnewswire.com
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