Intel has officially announced the acquisition of Israeli company Telmap, which develops navigation and location-based services. The announcement was made on Intel’s AppUp Developer Program blog.
First reports on the acquisition surfaced several days ago. The deal is valued at $200-300 million, a handsome return for the Israeli company which has raised $20 million from the Science Navigation group.
Telmap, which was founded and is managed by Oren Nissim, develops and markets navigation software for cellular phones under the Navigator brand. Its income is based on monthly membership fees and ads adjusted to the geographical location and user.
Read More: @ ynetnews.com
Readers found more information by searching for:
You might also like:
- Don’t you recognise me?: Starbucks to ditch name with new streamlined logo
- Fighting SMS Rosh Hashanah greetings, Facebook-style
- Hershy Friedman Of Agri-Star Takes Over Shaya Boymelgreen’s Shares In Azorim
- El Al to Hasidim: Don’t smoke on plane
- Michael Oren urges U.S. Jews to defend Israel against aggressors