Traffic information supplier INRIX announced a $60 million offer for the acquisition of its competitor, British ITIS Holdings plc. Upon approval by ITIS shareholders, the deal is expected to close in late August 2011, said INRIX. the Seattle company announced earlier this week a fund raising of $37 million to fund “acquisitions“.
Apple's reported purchase of another 3D mapping company is further evidence it will inevitably reinvent its maps solution on its mobile devices and move away from Google.
Google has selected INRIX’s Real-time Traffic to help power its navigation and mapping applications.
