Apple was widely expected to use own mapping data, but few developers noticed that the new Maps app makes use of Data from TomTom. TomTom has now confirmed that it has indeed struck a deal with Apple to provide maps for iOS devices.
Here’s the brief press statement from TomTom:
TomTom (AEX:TOM2) has signed a global agreement with Apple® for maps and related information. No further details of the agreement will be provided.
There was a concern that companies like TomTom that offer standalone turn-by-turn navigation apps in the App Store for quite a premium are going to find it extremely difficult to compete with Apple’s free Maps app. So the deal should come as a relief for TomTom shareholders.
Wall Street seems to be quite happy with this news as TomTom’s stock is up more than 16% (at the time of writing this post).