Apple’s now infamous attempt at designing its own maps and navigation application has some analysts predicting they may need outside help to stop the bleeding.
Dutch-based GPS navigation company TomTom is considered the most likely candidate, and as a result TomTom stock has jumped by 5.65% in anticipation of the takeover.
Hans Slob, a Netherlands-based analyst for Rabobank, predicted there is a 30% chance that the merger would happen, with TomTom founders needing the cash, and Apple needing their know-how. Apple already confirmed that it’s using TomTom data for Apple Maps on iOS, but it might need more of its partner’s expertise to fix its app.
TomTom is considered one of the premier mapping and navigation companies, and has gained a 33% increase in stock this year, being currently valued at just under $1.2 billion. This can almost be considered a bargain in light of Apple’s capital and what they’d be getting in return.
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