NAVTEQ map data to support Garmin devices through 2015

 

CHICAGO, Nov. 16 -- NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions and Garmin Ltd. (Nasdaq: GRMN), today announced the completion of a long-term agreement that provides Garmin access to NAVTEQ map data through 2015 with an option to continue through 2019. 

    The agreement is an extension of NAVTEQ and Garmin's current working relationship which began in 1999.  The new agreement provides Garmin access to all of NAVTEQ's map data globally (currently available in 69 countries).

 "This agreement represents our commitment to meeting Garmin's long term needs for premium map content.  We are pleased to support Garmin's category leadership with the strengthening of our relationship," said Judson Green, President & CEO, NAVTEQ. 

    "NAVTEQ's comprehensive map data allows Garmin to deliver the highest quality navigation experience to our customers.  Working together, we will continue to expand our application capabilities through enhanced content delivery," said Min Kao, CEO, Garmin Ltd.

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 approximately 3,100 employees located in 167 offices in 31 countries.

NAVTEQ is a trademark in the U.S. and other countries. (C) 2007 NAVTEQ. All rights reserved.

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.

About Garmin Ltd.

    The Garmin Ltd. (Nasdaq: GRMN) group of companies designs and manufactures navigation, communication and information devices -- most of which are enabled by GPS technology.  Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at http://www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries.