Garmin Drops Bid; Reaches Settlement With TomTom
Garmin has dropped its bid for map-software provider TeleAtlas, leaving rival TomTom to complete its acquisition, the Wall Street Journal reported Friday.
Garmin also said it would extend its agreement to use Navteq’s maps through 2015.
The move came just a day after TomTom and Garmin had reached a settlement of several pending lawsuits over patents and other intellectual property, the AP reported. The suits, which had flown in both directions between the firms, were pending in Wisconsin and Texas, as well as in both British and Dutch courts.