Navteq selected for Technology Innovation of the Year
Chicago, Illinois, USA – NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions, has been selected by Frost & Sullivan as the recipient of the 2006 Technology Innovation of the Year Award for its development of digital map data, that enhances the utility of geographic information, location-based solutions and navigation systems.
Frost & Sullivan presents this Award each year to a company that has demonstrated technological superiority within its industry. This Award recognizes the ability of the company to successfully develop and introduce new technology, formulate a well-designed product family, and make significant product performance contributions to the industry.
Currently, NAVTEQ is focusing on demonstrating initiatives with partners that leverage global positioning system (GPS) technology and its digital map database. NAVTEQ’s technological innovations in digital mapping are driving various navigation-based industries including in-vehicle navigation, location-based solutions, and government and enterprise applications.
NAVTEQ demonstrated numerous technologies at the 2005 World Congress on Intelligent Transport Systems, at which participants experienced these advances live and deployed in various vehicles at the Innovative Mobility Showcase. Targeted at enabling future intelligent transport systems, NAVTEQ’s innovations included map-enabled vehicle infrastructure integration, intelligent intersections, wireless map replacement, curve speed and forward collision warnings, traffic information via probe data, and the enhancement of the current 511 traveler’s information system. Each of these technologies incorporates unique NAVTEQ® map data attributes and the Advanced Driver Assistance Systems (ADAS) research platform.
“Frost & Sullivan is pleased to recognize NAVTEQ with the 2006 Technology Innovation of the Year Award in Geographic Information Systems for its commitment to maximizing the utility of digital map data and promoting the advancement of the navigation industry. These efforts promise to enhance the safety and convenience of the driving experience and deliver a number time and fuel efficiency benefits,” commented Joerg Dittmer, Senior Industry Analyst, Frost & Sullivan.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,900 employees located in 131 offices in 23 countries.
NAVTEQ is a trademark in the U.S. and other countries. All rights reserved.
This document may include certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 26, 2005, as filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document.