Microsoft Extends and Expands Agreement For Use of NAVTEQ Traffic(TM) Data
Written by NAVTEQ
Monday, 15 October 2007
CHICAGO, Oct. 15 -- NAVTEQ (NYSE: NVT), a leading global provider of
digital map data for vehicle navigation and location-based solutions,
today announced a multi-year extension of its agreement to provide real
time and historic traffic information to Microsoft Corporation.
NAVTEQ Traffic remains Microsoft Corp.'s preferred provider of traffic information for its web properties and the agreement extends Microsoft's right to use NAVTEQ's traffic data in online products and services, desktop and mobile applications and appliances.
Microsoft's MSN Direct service, Streets & Trips desktop applications, Windows Live Local, Microsoft Automotive and Live Search for Windows Mobile services use NAVTEQ Traffic data today and this multi-year strategic extension of the Microsoft relationship provides for incorporation of NAVTEQ Traffic data in additional Microsoft products.
NAVTEQ Traffic(TM) powers automotive manufacturers', in-vehicle service providers', Web and wireless application developers' as well as television and radio broadcaster solutions with real-time flow, incident and construction data for 77 U.S. and Canadian DMAs (Designated Market Areas). The company has more than 500 dedicated employees located in Operations Centers across the country who gather and report incidents as they occur in real time along with the impact of weather and planned incidents like scheduled roadwork. In addition, up-to-the-minute traffic flow information, including average speed, delays and drive time information for the nation's busiest roadways gives drivers an edge in planning routes and rerouting to avoid congestion.
NAVTEQ Traffic Patterns includes typical traffic flow conditions on more than 750,000 miles of roadway across the U.S. and Canada. The product's day of the week and day part model enables more precise routing and trip time estimations based on conditions normally experienced for a given day of the week and time of day.
NAVTEQ's leading traffic information is due to the wide variety of sources, including proprietary and government sensors, GPS and vehicle-based probes, toll tag data and historical traffic patterns that are combined and prioritized by the company's unique data engine.
"NAVTEQ has worked closely with Microsoft for many years to support its creation of innovative products that use our map data. We are pleased to extend the range of products that use our traffic data. MSN Direct and Windows Live Local already demonstrate Microsoft's creativity in regards to use of our data. These and other Microsoft traffic products require the high quality and robust coverage of NAVTEQ's traffic data," said John MacLeod, Executive Vice President for NAVTEQ. "This broadened agreement is symbolic of the collaboration our two companies have enjoyed in the past and will continue to strengthen."
"NAVTEQ brings a commitment to traffic data innovation that Microsoft shares," said Erik Jorgensen, General Manager for Virtual Earth and Live Search Maps at Microsoft. "Its traffic information brings the most accurate real-time and historical data and, when combined with our own proprietary content, represents some of the most compelling traffic offerings on the Web."
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has over 3,000 employees located in 168 offices in 30 countries.
NAVTEQ, NAVTEQ Traffic and NAVTEQ Traffic Patterns are trademarks in the U.S. and other countries. (C) 2007 NAVTEQ. All rights reserved. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. The statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under "Item 1A. Risk Factors" in each of the Company's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document.
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