“We are very pleased that we have acquired Applied Generics. The unique patented and proven technology which the company has developed will deliver high quality real time traffic information, not only for motorways but also for local roads. With the proliferation of car navigation products and the increase of congestion, there is a rapidly growing installed base and customer need for these kinds of services. We are looking forward to working with mobile network operators across Europe and North America to deploy the technology on a wide scale” said TomTom’s CEO, Harold Goddijn.
Dr Joe Dixon, CEO of Applied Generics said “With the large customer base and rapidly growing number of car navigation products as well as the financial and distribution strength of the TomTom Group, we are now in a unique position to commercialize our technology much more widely and to deliver unprecedented accurate and granular traffic information products that will help people to arrive at their destination in the shortest possible time. Our existing customers and partners will benefit from Applied Generics being part of the TomTom Group.
Applied Generics employs 18 people and realized a turnover of approximately EUR 1 million in 2005 and a small net loss.