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TomTom TeleAtlas deal has to wait

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The TomTom TeleAtlas merger that was announced last year is getting some objections by the European Commission. It is not a full brake, but a soft brake, so here are some issues that TomTom can solve until May 5th, it is said. I am curious what they are supposed to deal with to get an okay from the EU.

via Engadget

Tags: TeleAtlas, TomTom, maps, merger, acquisition, EU, European Commission

February 25th, 2008 | No Comments | Posted in gps passion
Tags: acquisition, , European Commission, , merger, ,

Galileo funding arranged

I seems that the funding of Galileo, European equivalent of GPS, is arranged now. The negotiation (read: bargaining) went on long into the night.

The involved companies were afraid that they would never recover the costs on the project, so the EU had to put another 2,4 billion euro on the table.
The EU discussion was for a big part where to get the money from. A few countries were against the plan to get the money from the (yes, you read it right!) fewer agricultural funds.
The compromise is that only 1,6 billion will be out of these pockets and the rest out of the budget of innovation and research.

All increases in costs must come out of this latest budget too.

It indeed looks strange that the money is coming from agricultural pockets, but don’t forget that this satellite system is more aimed at civil use than military. ;-)

via Tweaker.net (Dutch only)

November 24th, 2007 | No Comments | Posted in navigation, satellites
Tags: civil, , ,