Sunnyvale, California—September 2, 2011—TeleNav, Inc. (NASDAQ: TNAV), one of the largest global wireless location-based services providers, today announced that it has completed the acquisition of goby, a Boston-based local search engine and mobile application developer focused on offering users an easy way to explore and discover events and activities based on location.
"We are impressed with what the goby team has built to date and are excited about what we can do together moving forward," said HP Jin, president, CEO and co-founder of TeleNav.
Most of the eleven goby employees will join the TeleNav team and will remain in their current Boston location. The overall financial impact of the acquisition to TeleNav is not expected to be material to the financial results and cash position of TeleNav. Other terms of the acquisition were not disclosed and additional details on timing and extent of goby content and technology integration will be announced at a later date.
TeleNav, Inc. is a leading provider of consumer location-based services (LBS), enterprise LBS and automotive LBS with more than 26 million paying subscribers as of September 30, 2011. TeleNav's services provide consumers, wireless service providers, enterprises and automakers with location-specific, real-time, personalized services such as GPS navigation, local search, mobile advertising, mobile commerce, location tracking and workflow automation. TeleNav's technology is available across more than 1,300 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav's service providers and partners include AT&T, Bell Mobility, Boost Mobile, China Mobile, Cincinnati Bell, Ford Motor Company, NII Holdings, QNX Software Systems, Rogers, Sprint Nextel, Telcel, T-Mobile UK, T-Mobile USA, U.S. Cellular, Verizon Wireless and Vivo Brazil.