Apple ditching Google maps with TomTom deal - KMSP-TV

Source: MarketWatch

AMSTERDAM -- A day after Apple unveiled a broad revamp of its laptops and software, TomTom, the Amsterdam-based provider of navigation technology, said that it would provide mapping data to the iPhone and iPad maker.

Financial terms of the global agreement were not disclosed in the company release Tuesday. But the deal brings into sharp relief reports that Apple was determined to move away from erstwhile partner Google, which provided mapping technology to previous iterations of Apple's iOS operating system.

In European trading Tuesday, TomTom shares leaped 14 percent.

At Apple's Worldwide Developers Conference on Monday, the Cupertino, Calif., computer giant introduced upgrades to its software and laptop computers, including new Apple-designed mapping functionality that enables turn-by-turn navigation with spoken directions.

Apple said that its new mapping application provides real-time traffic information and suggests alternative time-saving routes. It is connected to local-search information, including Yelp ratings, reviews and deals.

Panning, tilting and zooming on the new maps will be "incredibly fluid," Apple said in its news release detailing iOS version 6. The company also announced Flyover, providing what it called "photo-realistic 3D views."

Apple previously bought at least three mapping-technology firms, giving rise to speculation that it would go its own way with navigation.

Last week, Google itself unveiled a 3D mapping feature for its Google Earth function. The feature is enabled by a group of planes equipped with specialized camera technology.

Investors expressed some concern Monday about how Apple's new mapping function would affect Google.

Meanwhile, shares of Garmin, the Swiss provider of GPS technology, slipped several percentage points before recouping after some features of Apple's new map app became known

Read More: Apple veers away from Google with TomTom map deal