NAVTEQ Strengthens Local Mapping Portfolio with The Map Network Acquisition

In December 2006, NAVTEQ (NYSE: NVT), a global supplier of digital map data for navigation and location-based applications, announced an agreement to acquire The Map Network for $37.5 million in cash, subject to customary adjustments and closing conditions.

The transaction is designed to extend NAVTEQ’s core digital mapping capabilities by incorporating detailed, locally sourced content tailored to travel destinations, events, hotels, and major venues.

Expanding Location-Specific Detail

The Map Network, headquartered in Washington, DC, produces official print and online maps for more than 90 U.S. cities, over 200 trade shows and large-scale events, and numerous convention centers, stadiums, and hotels. Its cartographic products include comprehensive building layouts—both interior and exterior—event listings, and community-level points of interest relevant to visitors and residents.

Notable clients have included the Washington, DC Convention & Tourism Corporation and high-profile events such as Super Bowl XL and XLI.

By integrating these assets, NAVTEQ intends to enhance the NAVTEQ® navigation experience with deeper local detail and enriched content directly sourced from community relationships. According to John MacLeod, Executive Vice President of NAVTEQ Connected Services, the acquisition aligns with the company’s strategy of building mapping intelligence from the local level upward, strengthening the overall navigation and location-based services portfolio.

Real-Time Customization Capabilities

In addition to expanding localized content, The Map Network brings a proprietary mapping platform that allows clients to customize maps dynamically and publish them across a network of users. This capability supports marketing initiatives, event management, and destination promotion by enabling tailored, real-time map production.

Shane Green, President and CEO of The Map Network, noted that the companies had maintained a working relationship for approximately two years prior to the acquisition. Familiarity between teams and alignment in technological vision were key factors supporting the integration.

Transaction Details and Financial Outlook

The boards of directors of both companies approved the acquisition agreement. NAVTEQ anticipated closing the transaction within several weeks of the announcement. Management indicated that the acquisition would be slightly dilutive to earnings per share in 2007.

Further details regarding the transaction were scheduled for release in the investor relations section of NAVTEQ’s corporate website.

About The Map Network

The Map Network specializes in transforming traditional maps into dynamic tools for sales, marketing, and community engagement. The company serves destination marketing organizations, trade associations, hotels, and major venues nationwide. It acts as the Official Map provider for numerous organizations and events, including leading trade shows, national political conventions, and large-scale sporting events.

About NAVTEQ

Founded in 1985 and based in Chicago, NAVTEQ develops comprehensive digital map data powering automotive navigation systems, mobile navigation devices, web-based mapping platforms, and government and enterprise solutions. At the time of the announcement, the company employed approximately 2,100 people across 139 offices in 25 countries.

NAVTEQ continues to focus on expanding its digital mapping capabilities through strategic investments that enhance navigation accuracy, local relevance, and location-based service innovation worldwide.