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TomTom NV, the Dutch maker of navigation software, agreed to provide maps and traffic data to Uber Technologies Inc. drivers globally.
The two parties signed a multiyear agreement for the partnership, which covers more than 300 cities globally, Amsterdam-based TomTom said in a statement Thursday. Financial details of the transaction weren’t disclosed.
TomTom is among a few global companies with digital-map assets, which are sought after by companies ranging from technology firms to social networks and e-commerce providers to car manufacturers. TomTom shares have advanced 86 percent in Amsterdam trading this year, amid consolidation in the industry.
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This article was written by Celeste Perri from Bloomberg and was legally licensed through the NewsCred publisher network.