By IANS,
Mumbai : Tele Atlas, a global provider of digital maps and dynamic content for navigation and location, will acquire a substantial equity position in a subsidiary of the Kalyani Group.
According to a spokesperson of the Pune-based Kalyani Group, the subsidiary Kalyani Net Ventures is one of the leading map-providers in India, and the joint venture feels it will strengthen Tele Atlas operations in India.
Moreover, the joint venture will help the international map provider in gaining access to an extensive map of India and to the growing business in map data licensing, geographic information system (GIS) and customized mapping projects in India, the spokesperson added.
Following the closing of the final deal, subjected to some formalities, it will be named Tele Atlas Kalyani India.
The new company will roll out its first products by the third quarter of 2008 and it will encompass all metropolitan centres as well as routes of national and state highways.