Intel acquires Israeli company Telmap

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Intel has officially announced the acquisition of Israeli company Telmap, which develops navigation and location-based services. The announcement was made on Intel’s AppUp Developer Program blog.

First reports on the acquisition surfaced several days ago. The deal is valued at $200-300 million, a handsome return for the Israeli company which has raised $20 million from the Science Navigation group.

Telmap, which was founded and is managed by Oren Nissim, develops and markets navigation software for cellular phones under the Navigator brand. Its income is based on monthly membership fees and ads adjusted to the geographical location and user.

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Posted by on Monday, October 3rd, 2011. Filed under Jewish News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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