TomTom NV (TMOAF.PK), a Dutch location technology company, Tuesday said that it has renewed its partnership with Uber Technologies Inc. (UBER), under which TomTom will continue providing maps, APIs, and live services across all Uber platforms.
TomTom said that its technology will improve the US-based ride sharing platform's routing, fare calculations, and pick-up and drop-off accuracy, particularly in complex locations such as airports and transit hubs.
According to the company, the partnership also allows Uber trip data to provide feedback into TomTom's mapping platform, thus helping keep maps updated with road changes, restrictions, and closures. Both companies are also looking into additional location-based tools to further enhance Uber's services and user experience, TomTom added.
Commenting on the developments, Amit Fulay, Vice President of Product, Uber, said, "Accurate mapping is key to delivering a fast and intuitive experience across our mobility and delivery platforms. We are excited to continue partnering with TomTom and leverage their industry-leading maps to improve our customers experience around the world."
On the OTC Markets, TMOAF.PK ended Monday's trading at $6.23.
On the NYSE, UBER ended Monday's trading at $80.74, down $2.12 or 2.6 percent. In overnight trading, the stock was up $0.23 or 0.28 percent at $80.97.
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