Nov. 2, 2009
Sunnyvale, California – November 2, 2009 – TeleNav, Inc. announced today that its wholly owned subsidiary, TNAV Holdings, Inc., filed a registration statement on Friday, October 30, 2009 with the Securities and Exchange Commission relating to a proposed initial public offering of TeleNav’s common stock. The shares in the offering will be offered by TeleNav and certain selling stockholders. The number of shares to be offered and the price range for the offering have not yet been determined. J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. are acting as joint book-runners for the offering. Robert W. Baird & Co. Incorporated, Canaccord Adams Inc., Piper Jaffray & Co. and Pacific Crest Securities Inc. are acting as co-managers. Copies of the preliminary prospectus for the offering, when available, may be obtained from J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, Telephone, (631) 254-1735; or Deutsche Bank Securities Inc., 100 Plaza One, Jersey City, New Jersey 07311, Telephone: (800) 503-4611. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About TeleNav Inc.
TeleNav, Inc. is a leading provider of location based services, or LBS, including voice guided navigation, on mobile phones. TeleNav’s LBS solutions provide consumers and enterprises with convenient and easy to use location specific, real time and personalized features and functions. TeleNav’s flexible and proprietary LBS platform enables it to efficiently provide its LBS to millions of end users, across more than 500 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav’s wireless carrier partners include Alltel, AT&T, Bell Mobility, Boost Mobile, China Mobile, Cincinnati Bell, NII Holdings, Rogers, Sprint Nextel, T-Mobile UK, T-Mobile USA, Telcel, Telecom Italia Mobile, Verizon Wireless and Vivo Brazil. TeleNav’s other partners include Ford Motor Company, Hewlett-Packard, HTC, INRIX, LG, Motorola, NAVTEQ, Nokia, Palm, Qualcomm, Research In Motion, Samsung, Sanyo and Tele Atlas. TeleNav is headquartered in Sunnyvale, California.
TNAV Holdings is a wholly owned subsidiary of TeleNav. TeleNav intends to merge with and into TNAV Holdings prior to the offering and the surviving company will be renamed TeleNav, Inc.
For more information on TeleNav, please visit www.telenav.com.