Pune-based Kalyani Group said it decided to sell its entire stake in its joint venture Tele Atlas Kalyani India Ltd to TomTom International BV. No financial details were provided.
Tele Atlas Kalyani India is responsible for the extensive map data of India. The restructured company will be fully aligned to the global structure of TomTom, Kalyani Group said in the statement.
The company will be renamed TomTom India Ltd and will leverage Tele Atlas' production platform to further enrich India map and navigable data products with extensive coverage and content, it said in a release.
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