The Amsterdam-based location and mapping services group said Fleetlogic will add 27,000 subscriptions to the installed base of TomTom Telematics. That brings the total of TomTom's installed telematics systems to more than 450,000.
"Adding the experience of Fleetlogic in enterprise fleets and government sales, we now addressÂ the full potential of this growing market.” Thomas Schmidt, managing director of TomTom Telematics, said in a press statement.
Telematics is TomTom's biggest growth market. It is one of the pillar of the company's strategy to offer core products for connected cars.
Telematics revenue jumped 31 pc in the first nine months of the year to 79 million euros. That made up for a continuing decline in the group's consumer business. Overall, TomTom reported a 4 pc drop in third-quarter revenue to 235 million euros. For the first nine months, the company's revenue was down 1 pc to 692 million euros.
TomTom's automotive business edged up 1 pc to 26 million euros in the first quarter. It also was up 1 pc in the first nine months of the year to 85 million euros. TomTom CEO Harold Goddijn said the companyÂ had automotive order bookings for the year to date of more than 170 million euros. Said Goddijn: "Together with orders secured earlier [this] will support growth in our automotive business from 2016 onwards."