TomTom has announced that it has signed a global agreement with Apple to provide maps and related information.
It is unclear what specific data the company is providing, but as the company’s name appears prominently in Apple’s new iOS 6 Maps application, it appears that it plays a major part in Apple’s new mapping service.
As noted by the Wall Street Journal, news of the deal have sent TomTom shares higher, but the deal also poses a threat as the turn-by-turn directions baked into the new Maps app may cause an increased decline in sales of both standalone GPS units and TomTom’s own GPS apps, which sell for between $50 and $120 each.
