Panasonic reveals duo of HDD-based Strada in-dash navigators
[Via AkihabaraNews]

Despite issuing an early statement of objection, the EC has come around to see the merits of a TomTom / Tele Atlas deal. In fact, the two companies have received "unconditional clearance" from the European Commission for the proposed acquisition. The US already approved the deal in October. Thing is, shareholders better get a move on since the bidding-war-boosted $4.2 billion offer (plus another $300 million thanks to the weakass dollar) made in November is set to expire on May 30th. Although it could be extended. Of course, Garmin made a move for Tele Atlas early on with a $3.3 billion bid of its own. Nevertheless, with TomTom profits heading downward and Garmin's own, hotly anticipated Nuvifone on the horizon, maybe Garmin will be laughing last after all.


The war for the low end of the GPS market promises to be a bloody one, and it looks like TomTom's suffered the first major injury: quarterly profits at the device maker dropped 83 percent from last year, and the company says it's due to competitive price cuts. TomTom made a net profit of just €7.3M ($11.4M) this quarter compared to €44M ($66.2M) in the year-ago quarter, results which led the company to lower its outlook for the entire year. The company actually sold 50 percent more devices than it did a year ago, but as PND prices steadily fall, it looks like TomTom will have to figure out a new way to pad those margins and refill its piggy bank if that $4.2B all-cash Tele Atlas deal goes through.
Finally, the EU's Giove-B GPS satellite was shot into space by the Baikonur cosmodrome in Kazakhstan. Strapped atop a Soyuz-FG rocket, the Giove-B reached orbit at 8:01am this morning, and is the second satellite launched for the nascent next-generation European Galileo satellite navigation system. This particular model is kitted out with dual redundant rubidium atomic clocks that the ESA says are "the most accurate in space". The next bird -- just three of thirty -- is slated to go up in 2010 with a full-system launch around 2013. Until then, it looks like they'll be stuck using the US's crappy, less-sensitive GPS network (boo hoo).








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