Key Developments: AutoNavi Holdings Ltd (AMAP.O)
12.79USD
18 Jun 2013
$0.01 (+0.08%)
$12.78
$12.90
$12.93
$12.65
287,157
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$15.19
$9.65
Latest Key Developments (Source: Significant Developments)
AutoNavi Holdings Ltd Announces Share Repurchase Program
AutoNavi Holdings Ltd announced that Board of Directors has authorized a share repurchase program. AutoNavi has been authorized, but not obligated, by Board of Directors to repurchase up to 2.5 million of the Company's American depositary shares (ADSs) within 12 months, beginning from June 5, 2013. The repurchases may be made from time to time on the open market at prevailing market prices pursuant to a 10b5-1 plan (which allows AutoNavi to repurchase ADSs pursuant to the pre-determined terms under the plan at any time, including periods in which it may be in possession of material non-public information), in negotiated transactions off the market, in block trades or otherwise. The timing and extent of any purchases will depend upon market conditions, the trading price of ADSs and other factors, and are subject to the restrictions relating to volume, price and timing under applicable law. AutoNavi expects to implement this share repurchase program in a manner consistent with market conditions and the interests of the Company's shareholders. AutoNavi's Board of Directors will review the share repurchase program periodically, and may authorize adjustment of terms and size accordingly. AutoNavi plans to fund repurchases made under this program from available cash balance. Full Article
Alibaba To Invest $294 Million In Mapping Firm AutoNavi Holdings Ltd-Reuters
Reuters reported that Alibaba Group will take a 28% stake in digital mapping company AutoNavi Holdings Ltd. Unlisted Alibaba will invest $294 million to become the shareholder in the Chinese-based firm. Full Article
AutoNavi Holdings Ltd Reaffirms FY 2013 Revenue Guidance
AutoNavi Holdings Ltd expects fiscal 2013 net revenues will be in the range of $168 million to $176 million, representing an increase of approximately 5% to 10 % over fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $173 million for fiscal 2013. Full Article
Nuance Communications Inc Announces Strategic Collaboration With AutoNavi Holdings Ltd
Nuance Communications Inc announced strategic collaboration with AutoNavi Holdings Ltd, a provider of digital map content and navigation and location-based solutions in China, to bring more intuitive voice-enabled navigation capabilities to the Chinese market. Specifically, the two companies will collaborate on the voice-enabled navigation product AutoNavi Map that will be made available in the second quarter of 2013 to the automotive and navigation device manufacturers developing navigation offerings supporting Chinese languages. As a result of collaboration with Nuance, AutoNavi will be able to deeply integrate voice data to their core navigation data and further optimize the user experience for map navigation products shipping in China, as well as meet the localization demands of global automotive manufacturers in the China market. AutoNavi will rely on Nuance's voice technologies to provide more accurate voice recognition and text-to-speech. Full Article
AutoNavi Holdings Ltd Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates
AutoNavi Holdings Ltd announced that for fiscal 2013, it expects net revenues to be in the range of $168 million to $176 million, representing an increase of approximately 5% to 10% over fiscal year 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $174 million for fiscal 2013. Full Article
SINA Corp And AutoNavi Holdings Limited Announces Strategic Partnership
SINA Corp and AutoNavi Holdings Limited, a provider of digital map content and navigation and location-based solutions in China, jointly announced a strategic partnership to integrate and enhance each other's social, location and mobile (SoLoMo) offerings. As a result of this partnership, AMAP, AutoNavi's mobile map application, users will be able to sign on using Weibo Connect and access content directly from SINA Weibo. SINA Weibo users will also have access to the content and functionality of AMAP. The companies expect such content and product integration will enhance the social networking and navigational aspects of each other's mobile offerings. Full Article
AutoNavi Holdings Ltd Reaffirms FY 2012 Revenue Guidance
AutoNavi Holdings Ltd announced that for fiscal 2012, it expects to maintain net revenues in the range of $152-$159 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $156 million for fiscal 2012. Full Article
AutoNavi Holdings Ltd To Acquire New Premises In Beijing
AutoNavi Holdings Ltd announced that it has recently entered into a set of agreements to acquire under-construction premises with an aggregate gross floor area of approximately 27,000 square meters in the Industrial Park of National Geographic Information Technology in Beijing's Shunyi District. The aggregate consideration for acquiring the new premises is approximately RMB270 million (USD42.9 million), to be paid in installments until construction is completed and accepted. Approximately 40% of the purchase price is expected to be paid by the end of this year. Pursuant to the agreements, the premises will be delivered to AutoNavi by the end of April 2014. Full Article
AutoNavi Holdings Ltd Reaffirms FY 2012 Revenue Guidance
AutoNavi Holdings Ltd maintained fiscal 2012 net revenues guidance and expects net revenues in the range of $152-$159 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $157 million for fiscal 2012. Full Article
AutoNavi Holdings Ltd Reaffirms FY 2012 Revenue Guidance
AutoNavi Holdings Ltd maintained fiscal 2012 net revenues guidance and expects net revenues in the range of $152-$159 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $156 million for fiscal 2012. Full Article
CORRECTED-UPDATE 1-Alibaba to invest $294m in mapping firm AutoNavi
SHANGHAI, May 10 - Alibaba Group, China's largest e-commerce firm, will take a 28 percent stake in digital mapping company AutoNavi Holdings Ltd, part of Alibaba's move to boost its competitveness by beefing up its product lineup.
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