In further evidence that location-based services are hot property right now, Intel has just bought the Israeli-based mapping software company Telmap for somewhere between US$300-350 million.
The purchase means that Intel are trying to create an alternative to Google Maps (and, to a lesser extent, Microsoft’s Bing and Nokia’s Ovi Maps) which has come to dominate the mobile platform.
Intel’s AppUp blog notes that Telmap will help supply AppUp developers with a standard set of location-centric APIs and software to make location services easier to implement in their apps.
Telmap offers location-based services to provide details on traffic data and local offerings, and expects to post revenue of $33 million in 2011 and be profitable for the second consecutive year.
Telmap will become a wholly owned subsidiary of Intel, which has two plants and four development centres in Israel, and will retain its brand, management and 210 employees.
“The unique thing about this transaction is that here comes a giant and says, ‘We really like what you’re doing, we believe in your strategy, we want to enhance and go forward. We’re not here to swallow you up,’ ” Mr. Nissim said.