As part of the keynote address at the AppUp Elements Conference, Intel announced that they had agreed to acquire Telmap, the Israel-based location platform that has supplied navigation and mapping to many wireless carriers including O2, Vodafone, Orange and others. The reported price was $300M or so. If true, that’s a great result for Telmap. They’re good guys and have been at it for a while, so congratulations.
Update Oct 8, 2011: There is a lot of skepticism about this number. Telmap had reported revenue of $30M, which makes a $300M acquisition seem unlikely. For comparison, NIM was bought at closer to 2-3X revenues). Continue reading Intel Acquires a Location Platform