CHICAGO, December 19, 2006 - NAVIGON Inc., the leading navigation software provider, has acquired NAVTEQ's (NYSE: NVT) navigation software business including all production software assets and development personnel to create automotive navigation software and software development toolkits that support a variety of platforms and media. NAVIGON now uniquely possesses the assets to cross pollinate the consumer electronics and automotive-grade navigation software realms - applying the innovation and nimble development cycles of personal navigation devices to in-dash navigation, and the rigor and superior quality of in-dash infotainment platforms to consumer electronic devices.

NAVTEQ, a leading global provider of digital map data for vehicle navigation and location-based solutions, established its software development business during the mid-1990s to foster market growth. With the navigation industry rapidly expanding, NAVTEQ determined it could best serve the demands of automakers and their consumers by focusing on enhancing its core navigable map data products.

"After careful evaluation, we determined NAVIGON was in a better position to support and further develop the navigation software business based upon the company's established automotive relationships and proven ability to deliver and support quality products for a diverse customer base," said Ed Marcheselli, Director, Software, for NAVTEQ. "Our companies have worked together strategically for many years, and we view this transaction as beneficial for both NAVIGON and NAVTEQ."

While NAVIGON has made important contributions to the future of vehicle navigation through previous collaborations with the global automotive industry, the acquisition significantly strengthens NAVIGON's competencies in the automotive category. The transaction effectively means newly christened NAVIGON is powering a variety of car navigation systems in North America and Europe. World-class car companies and their associated navigation system suppliers expand the established NAVIGON automotive roster, providing new opportunities for the company to extend its flexible and intuitive user interfaces to a new consumer audience.

"We expect this acquisition will be an important part of an industry-wide convergence for the infotainment platform, helping carmakers to bring new and innovative features into the car faster and more cost effectively," said Andreas Hecht, NAVIGON's general manager for the Americas.

"The consumer electronics industry is known for rapid innovation, and we think the combination of our personal navigation device experience with our knowledge of automotive grade applications will deliver the competitive roadmaps OEMs require to leverage significant R&D investments."