Apple To Purchase TomTom (Rumor)

There are rumors going around that Apple might just take over TomTom, sending the latter’s share price to rise – which is to be expected, as Apple is cash rich, and everyone knows that. Still, to be able to squeeze an extra dime out of Apple is not that easy, as many a company have found out. Well, according to an analyst at Rabobank who does Apple stories, there is a 30% possibility that Apple might just gobble up TomTom, and as part of this move, obtain the significant navigation expertise that the fruity company needs badly into their Maps app which has even been deemed as dangerous by the Australian police.

In fact, the share price of TomTom rose as much as 7% today based on this rumor, and to date, it has increased by over 30% this year. TomTom is an old hand at delivering mapping and navigational services in the market, so for Apple to shell out $1.2 billion would be chump change for them – and yet essential in boosting their Maps profile.

Edwin Kee
Categories: Rumors
Tags: Apple Inc, tomtom