TomTom has made a bold move into the Indonesian GPS market in buying out its joint venture partner, PT Navindo, to increase its shareholding in PT Tele Atlas Indonesia from 75% to 100%. The company will now operate under a new name “PT TomTom Indonesia”.
Maarten van Gool, the Managing Director of Licensing for TomTom said in a statement:
“This decision is important for TomTom to further strengthen our presence in APAC, providing us with good growth potential for our automotive and licensing customers. We will continue to invest in the quality of our global map database, in our navigation technologies and our leading traffic service.”
The news follows the recent buy-out of TomTom’s joint venture partner in India, where the company was renamed TomTom India Ltd.
TomTom is based in Amsterdam in the Netherlands with over 3,500 employees worldwide. Its new Places iPhone app competes directly with Google maps, providing information on local businesses, cash machines and landmarks in Germany, The Netherlands, Belgium, Portugal, Denmark with 170,000 downloads so far. The app will be made available in Norway, Sweden and Ireland in November 2011.