Navteq Corp. has announced that its stockholders have approved the previously announced merger agreement with Nokia. According to the company, over 75% of the issued and outstanding shares of common stock eligible to vote, representing over 99% of the total votes cast at a special meeting, were voted in favor of the adoption of the merger agreement. Completion of the merger is also subject to receipt of regulatory approvals and the satisfaction of the other closing conditions. Once the merger is completed, Navteq will become a wholly owned subsidiary of Nokia Inc.
Navteq also recently unveiled the expansion of posted speed limits and the launch of new roadside warnings mapping content, the latter targeted specifically to Western Europe. This new content is designed to enable an improved routing and navigation experience by taking into account changing speed limits as well as curves and hills when calculating the route. The 21 different roadside warnings, such as “sharp curve ahead” or “steep hill,” can be used to provide a notification to drivers about the static road environment.
According to the company, these same attributes can aid in route optimization. "Speed limits and roadside warning functionality allows the fleet manager to calculate optimum routes enhancing on-time deliveries," said Eric Fumat, vp and general manager, enterprise and government sales for Navteq. "What may look like the fastest route on a map, may in fact be the longest if the route spends the majority of the time cutting through mountains."
The Navteq Map posted speed limits content includes 100% of major highways plus selected secondary and arterial roads in the United States, Western Europe, eighteen Eastern Europe countries, South Africa, and the United Arab Emirates, according to the company.