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INTEL BUYS ISRAELI MOBILE NAVIGATION FIRM TELMAP

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Monday, October 17th, 2011

Chipmaker Intel Corp has agreed to acquire mobile navigation software maker Telmap.

Telmap, which provides mapping, local business listings and other location-based services, has been profitable since last year, with sales for 2010 reaching $28 million, and an expected turnover of $33 million for 2011. Telmap powers mapping applications for a number of mobile operators, including Orange, Telefonica’s O2 and SFR in France.

Herzliya-based Telmap has 210 employees.

Intel, the world’s No. 1 chipmaker, has two plants and four development centers in Israel.