Navigon and Navteq 3 year agreement

jonandmarkuk

I have just read on the nav-user.com forum that Navigon has signed a deal with Navteq for them to be the map supplier for the next 3 years.

http://nav-user.com/news.php?readmore=97

I would imagine that the 2 year Freshmaps updates are quite secure then.

Quote

NAVTEQ secures all NAVIGON off and onboard business for three years
Three year contract and preferred supplier status awarded

Sulzbach, 11 June 2008 – NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions, has reached a three year agreement for Europe to provide NAVIGON with maps as a preferred supplier. The agreement covers onboard navigation across all NAVIGON’s PNDs plus software products for other PND brands and mobile phone customers worldwide. This is in addition to a recent contract to supply mapping products for NAVIGON’s off board business.

It is the most comprehensive contract NAVIGON has awarded NAVTEQ in the companies’ six year relationship and is a logical progression following many joint global successes across different business sectors. The most recent illustration of this successful collaboration is NAVIGON’s FreshMaps initiative, which highlights the company’s strong wish to develop the map aspect of its business. With FreshMaps, NAVIGON customers will be able to get NAVTEQ maps updated every three months.

The intention of this agreement is that the two companies will work together over the coming years on both a series of new products as well as a variety of initiatives involving NAVTEQ products and services.

"While we had an established and successful track record with NAVTEQ, we took an objective approach to this contract,” explained Jörn Watzke, Vice President Product Line Management. “After exhaustive analysis, we selected NAVTEQ for the quality of data, value of offering and ability to strategically collaborate with NAVIGON to help us achieve our objectives and significantly grow our global PND and wireless business.”

“As NAVIGON is one of the world’s leading innovators of high-quality navigation, we are very pleased with the three year agreement. Given NAVIGON’s focus on introducing new content and capabilities, NAVTEQ is well placed to provide support, “said Jeff Mize, Executive Vice President, NAVTEQ Global Sales. “We introduced over thirty new content features in 2007 alone and will be supporting our customers in bringing a variety of additional features to the market in the future.”
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