AND International Publishers NV (AND), a Dutch provider of digital maps, rose the most in five months in Amsterdam after signing an agreement with deCarta Inc. to provide location-based services.
AND rose as much as 23 percent, the biggest intraday jump since Aug. 8, and was up 10 percent at 1.61 euros as of 11:03 a.m. local time, valuing the Rotterdam-based company at 6.03 million euros ($7.89 million). More than 91,000 shares changed hands, 12 times the three month daily average.
AND said in August it would halt its “unilateral” focus on selling maps and start offering additional services to fuel growth. The pact with deCarta allows AND to use the San Jose, California-based company’s software platform to provide services including geocoding, local search, customized maps and routing, it said.
“AND is very happy to work with a company that has powered the most important location-based services companies as known today,” Chief Executive Officer Hugo van der Linde said in the statement. ‘’We will now start offering our customized solutions through this technology to add location intelligence to our customers.’’
Closely held deCarta’s customers and partners include Samsung Electronics Co., General Motors Co., Nokia Oyj (NOK1V)’s Navteq, and TomTom NV (TOM2), according to the company’s website.
To contact the reporter on this story: Martijn van der Starre in Amsterdam at firstname.lastname@example.org
To contact the editor responsible for this story: Mariajose Vera at email@example.com