TomTom enters map agreement with Apple

TomTom has signed a global agreement with Apple to provide map services and related information.

The deal was announced after Apple launched a number of upgrades to its software and laptop product range, including new map functionality -- and after the company admitted to using military-standard camera technology to create 3D cityscapes.

The transactions terms have not been disclosed.

Companies TomTom, OpenStreetMaps and "others" are reported to be used for the new Maps application. It has not been clarified which services will be used for which feature.

Yelp will also be providing location reviews for the new app.

The three-dimensional citycapes and turn-by-turn navigation are assumed to be the domain of TomTom, and has previously been a feature that was considered highly developed in Google's Android models rather than the iPhone.

Europe's largest manufacturer of navigation devices saw its share price jump by at least 10 percent yesterday following the announcement -- after watching profit margins slump in the first quarter of 2012.

Amsterdam-based, TomTom employs over 3000 members of staff and sells its navigation devices in over 40 countries.

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