TomTom sees licensing sales growth from Microsoft deal
Reuters
Published Feb 06, 2019 04:27AM ET
TomTom sees licensing sales growth from Microsoft deal
AMSTERDAM (Reuters) - TomTom expects significant growth in its enterprise, or software, sales in 2019, the company said in an email on Wednesday, following publication of its fourth-quarter results.
The company had forecast 15 percent combined revenue growth for 2019 from sales of digital mapping services to carmakers and software customers.
Major software customers include Apple (NASDAQ:AAPL), which is building its own mapping system but still uses TomTom for coverage in most areas for Apple Maps, and Microsoft (NASDAQ:MSFT), which this week announced it was expanding its use of TomTom's maps in its Bing and Cortana products.
"We expect enterprise to show significant year-on-year growth in 2019, in part due to the Microsoft deal announced this week," the company said.
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Written By: Reuters
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