TomTom Shares Surged 13% After Talks of Possibly Being Acquired; Shares Now Fairly Valued
TomTom stock, which was 4-star, spiked nearly 13% on Oct. 29 due to reports suggesting that after the stock’s recent sell-off, TomTom might have become an acquisition target by companies such as Audi, Daimler, HERE (partially owned by Audi, Daimler, and BMW), and Apple. This was first reported by TMT Finance and later mentioned in the Financial Times. With such a reaction to the report, TomTom is now back in 3-star territory, as in our view, speculations of the firm being bought out may be mostl...TomTom develops and sells of navigation and location-based solutions, which include among others, Portable Navigation Devices, sport watches, maps, traffic, navigation software and fleet management services. As of Dec 31 2014, Co. had four segments: Consumer business, which is focused on creating location-based products; Automotive business, which provides modular components, being maps, traffic and navigation software, to car manufacturers and head unit vendors; Licensing business, which sells TomTom map, traffic and navigation software as well as cloud-based products and platforms; and Telematics business, which provides fleet management solutions for commercial fleets of any size.
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