March 3, 2015 / 7:28 AM / 3 years ago

TomTom expands in Latin America with Fiat, in Europe with Hyundai

AMSTERDAM (Reuters) - TomTom, the navigation software and device maker, said on Tuesday it had extended a supply deal with Fiat Chrysler to Latin America and will begin supplying Hyundai Motor with data in Europe.

A TomTom iPhone navigation application is seen in this photo illustration taken in Amsterdam February 28, 2012. REUTERS/Paul Vreeker

Financial terms were not disclosed. The deals are the latest in a string of successes this year for TomTom, including deals with Volkswagen (VOWG_p.DE) to supply maps in the United States and traffic data in Europe.

TomTom shares have risen 38 percent so far this year, outperforming a 14 percent rise for the benchmark Dutch midcap AMX index.

The Netherlands-based company said Tuesday it would supply maps and navigation software to Fiat in Latin America, beginning with Brazil and adding other countries during 2015.

Fiat sold just under a million cars in Latin America in 2013.

In Europe, TomTom said it had agreed to supply Hyundai with live traffic and weather data.

The deal runs for seven years and begins with Hyundai’s Tucson SUV model in the second half of 2015. Hyundai sold about 400,000 autos in Europe in 2014.

Reporting by Toby Sterling; editing by David Clarke

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