Apple’s SCP Eddy Cue is looking to make a takeover bid for TomTom in an effort to fix Apple’s Maps app.Apple CEO Tim Cook recently shook up the executive level in response to the Mapgate giving the responsibilities of it and Siri to Eddy Cue. One of Mr. Cue’s ideas is to buy TomTom and add their GPS expertise to their own.
TomTom is already a major data provider for Apple Maps and bringing them in could help speed up the major fixes Maps needs. Rabobank analyst Hans Slob wrote there was a 30% chance Apple would seek to acquire TomTom. “TomTom needs the cash from Apple, and Apple need the know-how of TomTom.” Meanwhile, Tomtom’s share price recently and Slob speculated that the takeover would be a “royal way out” for the company’s founders. TomTom’s market value is estimated at $1.18 billion.