TomTom BV TOM2.NV

Specialising in mapping and navigation products, TomTom BV is a Dutch company that was formed in 1991. The company excels in the design and manufacturing of numerous products, including GPS devices and fleet management systems. TomTom has an impressive global presence, with over 50 offices in more than 30 countries. The company released its first product, a car navigating system, in 2001. In 2004, TomTom released the first ever PND or Personal Navigation Device. TomTom has partnered with several leading car manufacturers to provide built-in navigation solutions for their vehicles. This prestigious list includes Fiat, Renault, Mazda and Toyota.

TOM2.NV stock went public in 2000 on the Amsterdam Stock Exchange. TomTom issued an additional public offering in 2005, raising a total of $740 million. Shares were sold at $27.62, as the company looked to procure funding to fuel its expansion objectives. The stock was in extremely high demand, with the IPO oversubscribed ten times higher than the available shares, according to TomTom executives.

TomTom has come under fire in the past for allegedly selling user information to governments. It should be noted however, that governments often purchase user information from navigation service providers, with the goal of better understanding driver behaviour, both in terms of infrastructure and law enforcement.

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