The Hindu Business Line : Tele Atlas to pick up stake in Kalyani Net Ventures

Mumbai, April 14 Tele Atlas, a global provider of digital maps and dynamic content for navigation and location-based solutions, said it has signed a definitive agreement with Pune-based Kalyani Group to acquire a substantial equity position in Kalyani Net Ventures Ltd.

Kalyani Net Ventures Ltd is a map provider serving consumer application, business-to-business and business-to-Government market segments.

Mr Amit Kalyani, Director, Kalyani Group, said, “The joint venture will allow us to leverage Tele Atlas’ industry-leading technology and help enable us to deliver the highest quality digital map solutions of India.”

After closure of the transaction, the company will be renamed Tele Atlas Kalyani India Pvt Ltd.

Mr Mark Steele, Chief Operating Officer, Tele Atlas Asia Pacific, said, “By combining our experience and technology with Kalyani’s regional expertise, we will be able to meet growing global customer requirements and local market demand for highly accurate digital maps of India.”

The first products in the standard Tele Atlas specifications will be available in the third quarter of 2008 and cover all major metropolitan areas and the national and State highway networks of India.

Product offering

Tele Atlas Kalyani India will also offer a range of enhancement products such as 3D landmarks and detailed city maps, aligning its product offering with the global product offerings of Tele Atlas.

Through a combination of its own products and partnerships, Tele Atlas offers digital map coverage of over 200 countries and territories worldwide.

The company has offices in 24 countries and is listed on the Frankfurt Stock Exchange and Euronext.

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