Telenav Acquires skobbler, the Leader in OpenStreetMap-based GPS Navigation
Crowd-sourced mapping and navigation gives Telenav big boost
Telenav announced on Thursday that it has acquired skobbler for $23.8 million in a combination of cash and stock. Based in Germany, skobbler heads up a crowd-sourced OpenStreetMaps application which employs data supplied by the public. Think in terms of Wikipedia for maps; it’s very accurate, highly detailed, and constantly updated. As we might expect, Telenav plants to incorporate skobbler and its team into navigation and map tools, particularly Scout.
“By joining our efforts with skobbler, we will build on our combined successes to bring the best mapping and navigation services to our customers around the world. The benefits of an open source model will provide an enormous opportunity to change the economic models of navigation and other location-based services.”