Intel to acquire Israeli Telmap
Intel (Santa Clara, CA, USA) has agreed to acquire Telmap (Tel Aviv, Israel), a maker of mobile navigation software. Details of the deal were not disclosed, but according to The New York Times Israeli media said Intel was paying $300 million to $350 million.
The Telmap chief executive, Oren Nissim, said the deal was expected to close before the end of the year.
Telmap, which offers location-based services to provide details on traffic data and local offerings, expects to post revenue of $33 million in 2011 and be profitable for the second consecutive year. Telmap will become a wholly owned subsidiary of Intel, which has two plants and four development centers in Israel, and will retain its brand, management and 210 employees.
“The unique thing about this transaction is that here comes a giant and says, ‘We really like what you’re doing, we believe in your strategy, we want to enhance and go forward. We’re not here to swallow you up,’ ” Mr. Nissim said.
Teaming up with Intel will enable Telmap to provide a “true alternative” to offerings from giants such as Nokia and Google, Mr. Nissim said.
Peter Riddle, general manager of Intel’s AppUp developer program, said in a blog post that the deal was a step toward expanding Intel’s capabilities in mobile software services.
“Telmap delivers great multiplatform consumer experiences every day, and we’re looking forward to combining that focus and excellence with Intel’s to significantly grow their business,” he wrote.
Telmap, pioneers in mobile location-based services, is proud to announce that it was named 8th on the 2011 Deloitte Israel Technology Fast 50, a ranking of the 50 fastest growing technology companies in Israel. Telmap has been included on the list for the past five years.
Telmap, established in year 2000 is a world leader in mobile location-based services. Telmap provides mobile operators with white label, hosted and managed services that are fully designed to open new business opportunities and generate new revenue streams.
Telmap has established a solid reputation for its innovation around end-to-end mobile local search, mapping and navigation services that enrich on-the-go experiences through integration of local content, community interactions, and relevant retail offers.
Telmap’s flagship product is the world’s first personalized Mobile Location Companion that caters to all users’ needs while out and about, with location central to everything: social interactions, deals and promotions, exploration of one’s surroundings, and more. The
Telmap technological architecture is open to third party developers as well as content providers for a wide range of integration and publishing methods.
Telmap has been repeatedly selected by leading industry players including Orange FT Group, Vodafone, Vodacom, MTS, SFR, O2, Telefonica, SingTel, OPTUS, Cellcom, Pelephone, Partner and more.