Telenav Buys Skobbler For $23M

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skobbler

Personalized navigation company Telenav has acquired skobbler, an European navigation company working on OpenStreetMap (OSM)-based GPS navigation apps. The acquisition closed on January 29, 2014 for roughly $23 million in cash and stock.

OSM is a crowd-sourced and open-sourced map of the globe. With offices in Germany and Romania, skobbler was the first company to launch a commercial navigation app using OSM (in 2010) for both Android and iOS devices.