TomTom (Pink:TMOAF), the Dutch navigation software specialist, is already benefiting from its new tie to Apple (Nasdaq: AAPL), the world's most valuable technology company, which hired it to provide data for the iPhone.
Shares of TomTom surged more than 13 percent Tuesday, after Apple, of Cupertino, Calif., announced the deal. TomTom's U.S. shares closed at $4.80, up 57 cents, in Tuesday trading.
Apple severed its earlier ties to Google (Nasdaq: GOOG), the No. 1 search engine for mapping and said its new iOS for phones and tablets would use TomTom maps and technology. Nokia (NYSE: NOK), the Finnish phone maker, previously acquired the other big mapmaker, Illinois-based Navteq, in an $8.1 billion deal in 2007.
Shares of mapping provider Garmin (Nasdaq: GRMN), familiar to drivers, jumped 3.4 percent to $39.51 while those of Trimble Navigation rose 1.4 percent to $46.34.