TomTom [TOM2] has expanded its agreement with Maxar Technologies to integrate high-resolution, global satellite imagery into its digital maps. The companies said that the partnership allows TomTom the capability to offer its clients a photorealistic map.
In addition, TomTom’s Automotive and Enterprise software platform offers end users satellite imagery to give them more context of potential challenges on the ground, the company said.
Initially, TomTom will use Maxar’s Vivid base maps, which offer cloud-free imagery layers and updates. Vivid Advanced offers 30-centimeter resolution over the most populated and highest-interest areas of the world, the company said. For remaining areas, Vivid Basic is available at a 50-centimeter resolutions, the company said.
In other company news, TomTom didn’t mention the Maxar partnership, which itself made an investment with geospatial analytics company Blackshark.ai, in a recent earnings call, but had to explain why it suffered a net loss of 21.5 million euros during the first quarter—almost double the loss of 11.5 million euros the year before.
“Our latest estimates for automotive operational revenue growth is 10 percent compared with last year is down from 15 percent, which we gave at start of the year,” said Taco Titulaer, TomTom CFO. “Moreover, the planned increased expenses, which center around our application layer and the further automation of our matchmaking platform are expected to lead to negative free cash flow of around 5 percent of group revenue in 2022.”
Contact: TomTom, firstname.lastname@example.org, www.tomtom.com.