Netherland-based TomTom, a provider of location and navigation services, boosted its presence in India by increasing its stake in its Indian joint venture to 90 percent from 60 percent.
Financial details of the transaction were not disclosed.
This decision is important for TomTom to further grow our presence in an increasingly significant emerging market for us, said Alain De Taeye, Member of the Management Board TomTom.
Due to India's strong economic growth, the company expects the demand for high-quality TomTom solutions and maps to significantly increase over the coming years.
TomTom’s digital maps are used by hundreds of millions of people on the internet or mobile phone.