Utah firm acquires Nokia Navteq's Malvern operations; forms Radiate Media
Tom Paine
A Salt Lake City-based company, Matchbin (now Radiate Media), has acquired Nokia Navteq's Traffic.com operations in Malvern, it announced yesterday. Nokia had announced on September 29 that it would close the Malvern office, as I reported. Chris Rothey, former head of NAVTEQ Media Solutions, will become Radiate Media’s new chief executive officer. Radiate Media will continue to provide traffic content solutions through an ongoing arrangement with Navteq. Financial terms were not disclosed.
Radiate Media's press release says it has "has over 230 employees located in Malvern, Pa., Salt Lake City, Utah, and other offices across the United States". Joe DiStefano reports in the Inquirer that Radiate Media’s President and COO Hal Widlansky (previously CEO of Matchbin) says all 191 engineers, technicians, sales people, and other Traffic.com workers in the Malvern office are now employees of the combined Matchbin-Traffic.com. But Navteq said at the time the shutdown was announced that 300 employees in Malvern would be impacted, so its not clear what will happen to the other 100 or so employees.
The headquarters of the combined company was not specified, although its CEO and about 80% of its employees are located in Malvern.
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