Despite issuing an early statement of objection, the EC has come around to see the merits of a TomTom / Tele Atlas deal. In fact, the two companies have received "unconditional clearance" from the European Commission for the proposed acquisition. The US already approved the deal in October. Thing is, shareholders better get a move on since the bidding-war-boosted $4.2 billion offer (plus another $300 million thanks to the weakass dollar) made in November is set to expire on May 30th. Although it could be extended. Of course, Garmin made a move for Tele Atlas early on with a $3.3 billion bid of its own. Nevertheless, with TomTom profits heading downward and Garmin's own, hotly anticipated Nuvifone on the horizon, maybe Garmin will be laughing last after all.

Reuters is reporting that the European Commission, apparently having completed is inquiry into the $4.2b acquisition offer TomTom made Tele Atlas last year, is issuing a "statement of objections." It's not a flat-out rejection / do not pass go / do not collect $200, but now TomTom supposedly has until May 5th to work on resolving the issues the EU's presented before it can get the thumbs up to make its big buy.

Motorola just announced a new Mobile TV with GPS and Tele Atlas maps. Think their DH01 (pictured) DVB-H TV with the addition of built-in navigation. Motorola is light in the details for specs, release, and price. As such, we assume everything else is the same on this personal DVR with 4.3-inch display.

The European Commission has just opened an investigation into TomTom's proposed purchase of Tele Atlas, claiming that consumers could be hurt by a GPS hardware maker owning one of the two major digital map providers. Specifically, the so-called "in-depth inquiry," which will be concluded no later than April 17th of next year, stems from "serious doubts that the acquisition by TomTom of Tele Atlas might...lead to a significant impediment of effective competition within the EEA." With Nokia going after NAVTEQ and Garmin having given up on Tele Atlas, this investigation clearly makes sense from the free market standpoint, as the Dutch firm is not likely to slip past without at least committing to fair map licensing terms for other PND manufacturers. In response to the Commission's announcement, TomTom decided to extend its offer for shares of Tele Atlas until March 31st, 2008, with the option to issue another extension if certain conditions are not met.

[Thanks, Daniel]

The predicted bidding war between Garmin and TomTom over a takeover of Tele Atlas has certainly come to fruition, with TomTom all set to go ahead with a $4.2 billion bid taking place on Monday. Garmin stepped back from the brink on Friday, after offering a measly $3.3 billion. Tele Atlas's management must certainly be happy that the company didn't jump earlier, because it was only a few months ago that TomTom's offer was $2.5 billion. Does anyone else get the feeling that these numbers are starting to lose their meaning?

The title pretty much says it all on this one, folks. We suppose the thought of countering TomTom's recently raised $4.22 billion offer for mapmaker Tele Atlas weighed too heavy on Garmin's soul (or just seemed too expensive), but whatever the case, its $3.3 billion offer has officially been rescinded. Also of note, the AP claims that the outfit has struck a deal with NAVTEQ (or is that Nokia?), which guarantees it access to those maps through 2015. Currently, there's been no word on whether TomTom will move forward with its apparent plans to snap up Tele Atlas, but it's safe to say the biggest obstacle has been (voluntarily) removed.

Man, we were only half kidding when we suggested that Tele Atlas hold out for more money. But sure enough, they're now looking at a sweet €30.00 per share offer as followup to TomTom's original €21.25 offer which took just a tad too long to formalize. That's a bump from $2.56 billion to $4.22 billion. So Garmin... you ready to bump your $3.3 billion bid or shall we just consider this matter closed?

Man, it must feel mighty fantastic to be Tele Atlas right about now. Not even a month after TomTom finalized a whopping $2.5 billion offer to take the map maker over, Garmin -- which currently relies on NAVTEQ maps -- has come out swinging with a staggering $3.3 billion bid of its own. As expected, Tele Atlas is now taking a good hard look at both offers and examining its options, and some analysts are even suggesting that a bidding war could take the figure even higher. 'Course, such a conjecture is easy to make when TomTom has already proclaimed that it would reply in some way "in the near future." Bust out the blank checks -- this one could get ugly (or very pretty, if you're a Tele Atlas shareholder).

Just one day after Nokia offered $8 billion for NAVTEQ, TomTom is in the news with a formal offer for Tele Atlas. Of course, TomTom had already announced their intent to offer €21.25 per share (about $2.56 billion) for the map maker back in July -- the same amount tendered today. Back then the offer represented a sweet 32% premium over the average Tele Atlas share price. However, Tele Atlas is now trading above the offer price thanks to speculation caused by the Nokia deal. We say hold out for more Tele Atlas. Just hint at discussions with Nokia or Garmin and we're pretty sure TomTom will up the ante.

[Thanks, SmartDust]

As if Mio didn't have enough new kit coming down the pipeline, now we've learned that the outfit is reportedly readying another duo of portable navigation devices. The C620 and C620t seem to only differ in the traffic functionality built into the latter, as each will sport a 4.3-inch touchscreen display, the MioMap 2008 software with redesigned GUI and split-screen capabilities, an integrated media player, and a contact book for good measure. More importantly, however, are the new TeleAtlas maps, which purportedly boast "3D models of certain buildings, landmarks, and more." No news just yet on pricing or availability, but word on the street has these two showing up at this month's IFA expo.

[Via NaviGadget]

TomTom is currently the world's largest manufacturer of car navigation devices, but doesn't seem content to settle there, and has just put a $2.5 billion bid in for Tele Atlas, which provides maps for the likes of MapQuest, Google Maps, and of course navigation devices aplenty. TomTom currently accounts for around 40 percent of Tele Atlas' business, and says the deal would allow for improved maps and new features like daily map updates and better routing. TomTom would operate Tele Atlas as an independent business unit, and keep offering maps to other manufacturers -- who might take issue with their map dollars falling right into a competitor's pocket. If everything goes as planned, the two companies should be getting hitched by the end of 2007.