Exclusive: Navteq acquires Trapster
According to Autoblog sources familiar with the matter, five companies were interested in acquiring Trapster, and an outright bidding war was waged by three of the startup's suitors. In the end, Navteq brought home the brass ring for an undisclosed amount.
Trapster was established in 2003, growing considerably once it received funding in March of 2009 which allowed it to bring on a handful of employees.
Trapster users can expect their service to remain intact, and with the engineering resources of Navteq integrated with the current apps, traffic, road hazard and maybe even police data stands to increase considerably.
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