The biggest ride-sharing network closed a deal with the Dutch navigation company TomTom for providing digital maps for the Uber drives.
Uber is synonymous with the ride-sharing industry and has an overwhelming market shares which makes the company to be evaluated at around 70 billion dollars, growing from year to year. Now, Uber announced that it signed a multi-year contract with the Dutch navigation company TomTom for providing digital maps and traffic data for the software used by its drivers. It is not the first agreement TomTom is making this year, which also closed a deal with Volkswagen and also announced it will continue the partnership with Apple.
TomTom CEO Harold Goddijn said Uber had chosen the Dutch company because the ride-hailing app company wanted to have “total control” over its own products. “Contrary to some of our competitors, we provide technology but also the raw data and databases to run” it, he said, adding that the deal relieved Uber of the need to “share sensitive information with other companies.”
The news of this agreement led to an 8.2 percent increase of TomTom’s shares in Amsterdam and they have now more than doubled this year. TomTom’s digital map competitors are Google and former Nokia subsidiary is HERE, with the latter being purchased by a consortium of German carmakers – Audi, BMW and Daimler – in August for 2.9 billion euros (3.1 billion dollars).