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Garmin Hits Trouble Spot

Stock quotes in this article: GRMN , NVT , NOK  

For Garmin(GRMN Quote) and TomTom, the battle for Dutch digital mapping company Tele Atlas is a fight for their future.

The two companies, best known for their automotive consumer navigation systems, run nearly head-to-head in global market share for their devices. Each hopes that the purchase of a mapping data provider yield a competitive edge.

Last week, Garmin raised the stakes in this battle further when it launched an unsolicited 2.3 billion euro ($3.3 billion) bid for Tele Atlas to counter a three-month-old offer from its biggest competitor, TomTom. ...

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