As Apple hovers, TomTom focuses on getting drivers from A to B

Following on from its disastrous mapping problems with its iPhone5 product in 2012, industry rumours are rife of Apple bidding to take over Dutch satnav company TomTom.

Forbes has reported TomTom shares climbed 13% in recent weeks with the stock gaining 33% in the past 12 months, valuing TomTom at €906m.

Rabobank analyst Hans Slob said there is a 30% chance a deal will happen. “TomTom needs the cash from Apple, and Apple needs the know-how of TomTom.”