BETTER PARTSTomTom signs deals with BMW and Peugeot
TomTom has signed an agreement with BMW for the delivery of traffic and navigation services, to the cars of the company. Further, TomTom has the contract with PSA, mother of, among others, Peugeot, Citroën, and Opel, has been extended to 2025.
The deals were signed at the Paris motor show that Tuesday has begun. There were no financial details were reported. TomTom goes for BMW to provide services to all brands, so also the Rolls-Royce and Mini. In april 2018 was started with an extensive testing program that is now an actual agreement has been completed. It comes to live updates on upcoming traffic and delays to car drivers to continuously inform and educate the travel time to shorten.
The original contract between TomTom and PSA would be in 2020 expire. On the navigation equipment provided to the French.
On the Amsterdam stock exchange was the share TomTom up a lot after the news. Recently was the price of TomTom still quite under pressure by worries about the steps of Google in the automotive market.
Moreover, TomTom has with the dissemination of the press releases about the deals break the rules. News channel RTL Z reported the pieces for more than an hour earlier to have received, before this wide were issued. Such a thing may not when it comes to price-sensitive information.
Supervisor Authority Financial Markets (AFM) declined compared to RTL Z, content to comment. The beurswaakhond never goes in on specific cases. TomTom was not immediately reachable for a comment.