~Justin~ schreef op 6 november 2018 15:48:
Vorig jaar zomer ‘klaagde’ tomtom dat de waarderingen in Telematics zo hoog zijn waardoor het moeilijk werd voor tomtom om overnames te doen. Alleen kleintjes waren soms nog redelijk geprijsd. Dit is sindsdien alleen maar ‘verergerd’ en is een van de redenen waarom tomtom verkoopt. Ze kunnen veel krijgen terwijl ze niet dmv acquisities kunnen groeien (ja, kan wel, maar niet tegen rationele prijzen).
Marc Zwartsenburg - ING Groep N.V., Research Division - Research Analyst
And in terms of acquisitions, now that you do this share buyback, do we -- should we also read that as no acquisitions in Telematics? Or are they so small that it could still fit in the growth strategy there? Or are the targets just too expensive that you've given up on that?
Harold Goddijn - TomTom N.V. - Co-Founder, Chairman of the Management Board and CEO
especially, money and valuations are high. But there's still consolidation taking place. And there are opportunities to buy that kind of smallish, medium-sized companies at reasonable prices. And if they - those opportunities happen, we are quite happy to do that - and there is enough financial room to do that, and so that's not a change in strategy. But it's getting hard to find those targets, to be totally clear. There are still -- they're offered to us every now and then, but it is not getting easier.