Spin out from NXP Semiconductors receives significant investment to further develop software-based GPS business and to leverage Road Group portfolio
CeBIT 2008
ZUG, Switzerland--(BUSINESS WIRE)--ROAD Group Holding AG has announced today that it has purchased a controlling interest in NXP’s Location Technologies Unit and establish Geotate B.V.. The new company will be added to the growing portfolio of independently operating companies in the ROAD Group. Geotate B.V. will be headquartered in the Netherlands with major R&D facilities in the U.K. and led by former NXP executive Hans Streng. Terms of the transaction were not disclosed.