TomTom, the popular Dutch company that produces navigation and mapping products and which also makes GPS sport watches, fleet management systems, and location-based products; has announced that Apple will continue sourcing data from the company as the one data provider for its Maps app on iOS devices and Mac.
Financial terms of the renewed agreement were not disclosed and we also don't know for how long the new contract will run. TomTom has licensed digital maps to Apple since 2012, when it managed to beat Google to supply the built-in mapping apps in Apple products. The Reuters publication mentions that TomTom shares jumped 7 percent to an almost six-year high following the announcement.
TomTom is an important data provider of the street-level detail for Apple Maps in North America and Europe, being listed at the top of Apple’s attribution page for contributors to Maps, alongside Booking.com, DigitalGlobe, TripAdvisor, Waze, Yelp and many others.
Apple has recently confirmed the acquisition of GPS company Coherent Navigation and it has been one of many rumored to be a potential bidder for Nokia’s HERE Maps division.