Zenrin Invests in Navigation Technologies Corp.KITAKTUSHU, Japan--(BUSINESS WIRE)--Oct. 22, 1997-- The World's Two Leading Digital Map Companies -- Zenrin and NavTech -- Continue to Expand Their Relationship, This Time Via a Direct Investment by Zenrin in NavTech Zenrin Co., Ltd., the leading publisher of digital map data to the car navigation See GPS. market, has taken an ownership position in Navigation Technologies Corp., the leading provider of digital map data for the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and European navigation markets. The two companies characterized the investment as another step in cementing the relationship between their organizations. NavTech and Zenrin have been working together closely to facilitate the introduction of Japanese manufacturers of navigation systems A GPS-based electronic system in a car or truck that provides a real time map of the vehicle's current location as well as step-by-step directions to a programmed destination. See GPS and vehicle tracking. into the European market. Zenrin Europe BV is a publisher of NavTech data. NavTech and Zenrin intend to cooperate similarly in the North American market. "Based on its extensive experience in Japan and its substantial investment in the European and North American markets, Zenrin is positioned to be the leading value-added publisher of NavTech's navigable NAVIGABLE. Capable of being navigated. 2. In law, the term navigable is applied to the sea, to arms of the sea, and to rivers in which the tide flows and reflows. 5 Taunt. R. 705; S. C. Eng. Com. Law Rep. 240; 5 Pick. R. 199; Ang. Tide Wat. 62; 1 Bouv. Inst. n. digital map data in a number of application areas," said NavTech Chairman Russell Shields. "I appreciate the confidence in NavTech demonstrated by Zenrin's investment. I look forward to the continuation of the very successful relationship between NavTech and Zenrin as we work closely together to speed up the navigation market." "Zenrin is pleased to expand its relationship with NavTech," said Hidemi Hayashi, executive director of Zenrin Co., Ltd. "Zenrin and NavTech worked well together in the early introduction of Japanese navigation products in Europe, and we are excited by future prospects in the European and North American markets. Zenrin looks forward to a long successful collaboration with NavTech in publishing in-car navigation software products." Based in Rosemont, Ill. and Best, The Netherlands, Navigation Technologies is the leading provider of navigable databases (Data West Research Agency definition: see GIS glossary.) The database designed and prepared for Intelligent Vehicle Highway Systems to support such systems for "smart cars" and "smart highways. for North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe for high demand intelligent transportation applications, including route guidance, fleet management, and advanced safety applications. NavTech is the only provider offering a consistent navigable database for these applications across both Europe and North America. NavTech's principal investor is Philips Electronics NV Philips Electronics NV in full Royal Philips Electronics NV Dutch Koninklijke Philips Electronics NV Major Dutch manufacturer of consumer electronics, household appliances, lightbulbs, and imaging equipment. , the Dutch Electronics giant. NavTech's other principal Japanese investor is Nichimen Corp., a long term partner which has been assisting NavTech with sales of its database to Japanese manufacturers for the North America and European markets. The NavTech Database covers the entire continental U.S. and most of Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). , with detailed area coverage that includes roadway geometry, primary and alternate street names, road classifications, one-way and turn restrictions, block-by-block address ranges, and over 700,000 points of interest in over 40 categories. Founded in 1985, NavTech now has a staff of over 800 people and 70 local field offices throughout North America and Europe. NavTech maintains an office in Yokohama to support Japanese manufacturers in making navigation products for the North American and European markets. Zenrin Co., Ltd. is a full-line publisher of map information products, serving the Japanese public since 1948. The company produces a wide range of products to most market segments from paper residential maps to highly-customized digital map databases for business. Zenrin keeps its information accurate with state of the art technology developed at the Zenrin Technology Center, the largest R&D facility in Japan in the field of mapping. In 1996 Zenrin Co., Ltd. total turnover was approximately US$325 million of which approximately US$45 million was related to car navigation products. Up to now Zenrin has published over 2 million CD ROMs covering nearly forty different titles. Zenrin's net profit for 1996 was approximately US$35 million. Zenrin's aim to become a global publisher resulted in the foundation of Zenrin Europe BV in October 1996 with the support of Aisin AW, Alpine Electronics Alpine Electronics, Inc. (アルパイン株式会社 , Kenwood Corp. and Xanavi Informatics Same as information technology and information systems. The term is more widely used in Europe. as co-shareholders. The objective of this subsidiary is to design, develop, produce and distribute in-car navigation products for the European market. CONTACT: Navigation Technologies Richard J. Weiland (U.S.) 847/699-7800 Denis Denis, king of Portugal: see Diniz. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. (Europe), +31-499-331414 Toyoharu Kotera (Japan), +81-45-476-3873 |
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