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Technology Stocks : NVT - Source of GPS Software, Data, and Maps

NVT 112.46

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Nov 5 3:59 PM EST

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From: JakeStraw	11/6/2006 8:17:44 AM
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Navteq to Buy Traffic.com for $179M biz.yahoo.com Monday November 6, 7:20 am ET Navteq to Buy Traffic.com for $179 Million to Give It Proprietary Traffic Content CHICAGO (AP) -- Navteq Corp., which makes navigation systems for cars, said Monday it is buying Traffic.com, a traffic information provider, for $179 million in cash and stock. The company said the acquisition will give it proprietary traffic content with the technology to deliver it. Navteq will pay $47 million in cash and issue 4.1 million shares of its stock to finance the deal, which is expected to cut into 2007 earnings by 11 cents to 17 per share and add to net income by 2009. The deal has been approved by the boards of both companies and is expected to close in the first quarter of 2007. Already used as a part of Navteq's systems, Traffic.com provides customized traffic reports in 50 U.S. metropolitan areas. The privately held company reported fiscal 2005 revenue of $453.3 million.

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