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Garmin, TomTom settle IP spat

Posted: 19 Nov 2007 ?? ?Print Version ?Bookmark and Share

Keywords:IP litigation? settlement? bidding?

In the midst of their bidding war for digital map provider Tele Atlas NV, Garmin Ltd and TomTom have made confidential global settlement of all their IP litigation.

The settlement resolves all of the pending IP litigation including cases in the United Kingdom, Netherlands, Wisconsin and Texas in the United States. The parties did not disclose details of their agreement.

Garmin has offered $3.3 billion for the Dutch company, trumping TomTom's initial $2.8 billion bid. Not backing down from its rival, TomTom Nov. 7 raised its offer for Tele Atlas to $4.3 billion.

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