Europe’s leading producer of navigation systems TomTom, may soon receive a bid from Apple to take over and repair their Maps App that has been riddled with problems from the start. The Dutch based company has a reputation for making swift changes in mending any mapping errors, as well as being efficient in creating new functions. Thus TomTom, who also trade in automotive navigation hardware and software, are the ideal candidates for Apple’s current Maps crisis.
It is common knowledge that Apple had reassigned Maps and Siri to the care of their Senior Vice President Eddy Cue after their recent company shakeup, in order to find a solution to their Maps problem. Mr Cue is well known for his familiarity with Internet software and services, and reports indicate that there is a thirty per cent possibility that he may be looking to approach TomTom to propose a possible company takeover through which they can then tackle the Maps issue.
Currently TomTom is a main data provider for Apple Maps, and getting the Dutch company fully on board will greatly facilitate overcoming the existing glitches. The potential relationship between Apple and TomTom promises to be a mutually beneficial one, as the iPhone company stands to gain much needed intelligence, while TomTom will be benefitting financially from such a move.
Already the Dutch based enterprise has witnessed a 7.2 per cent increase in their share prices, pushing stock to 4.12 euros. Thus their stock has gained thirty three per cent for 2012 alone, resulting in their current appraisal being roughly 1.18 billion US dollars. While it certainly sounds like TomTom is more than capable of repairing the Maps App, the Cupertino Company will still have to find a way to overcome all the bad press their Maps Apps has received from the start.