INTEL BUYS ISRAELI MOBILE NAVIGATION FIRM TELMAP
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.