News: Portfolio 2006

Navteq Agrees to Acquire Traffic.com

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"In addition to collecting and distributing premium traffic content, Traffic.com has the unique capability to productize traffic content and deliver it across multiple platforms," said Robert N. Verratti, CEO, Traffic.com. "Our technology and experience is a natural fit with NAVTEQ's industry-leading solutions."

 

NAVTEQ intends to finance the purchase price through a combination of approximately $47 million in cash and the issuance of approximately 4.1 million shares of NAVTEQ stock. Based on current expectations and projections, management expects dilution to earnings per share from the acquisition of Traffic.com of $0.11 to $0.17 in 2007 and accretion to earnings per share by 2009. NAVTEQ anticipates the closing will occur in the first quarter of 2007. The acquisition is subject to customary closing conditions. Merrill Lynch acted as financial advisor to NAVTEQ on the transaction.

NAVTEQ Management will discuss the acquisition on a conference call to be held at 8:30AM ET today. Information for the Company's conference call is as follows:

 

When: Monday, November 6, 2006 at 8:30AM ET

Where: http://investor.navteq.com

How: Log on to the web at the URL above or call to listen in at 866-831-6272 (North America) or 617-213-8859 (international), passcode 22543656

 

The company will provide a telephone replay of the conference call at 888-286-8010 (North America) or 617-801-6888 (international), passcode 87361148. The telephone replay will be accessible from 11:00 AM ET Monday, November 6, 2006 through 11:59 PM ET on Monday, November 13, 2006. An on-demand replay of the conference call will also be available online at investor.navteq.com until December 6, 2006.

 

A presentation regarding the transaction will be available shortly in the 'News & Events' section of our (NAVTEQ) IR website.

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