Garmin challenges TomTom with $3.3 billion bid for Tele Atlas
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).
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission. All prices are correct at the time of publishing.