Chicago - GPS map maker Navteq said it acquired Acuity Mobile, a company owning technology that delivers targeted advertising relating to one's precise location.
Navteq said it has already worked with Acuity Mobile for several years and made an investment in the company in March 2008.
Navteq uses Acuity's mobile technology to target consumers with coupons, promotions and advertisements based on their precise location and preferences.
"The acquisition of Acuity Mobile further strengthens our eight-plus years in location-based advertising and interactive advertising," said Navteq advertising VP Chris Rothey. "Our research indicates that the more finely we target advertising, the higher value it brings to consumers and advertisers alike.
Acuity Mobile is a U.S.-based company with approximately 18 employees. Terms of the deal were not disclosed.
Navteq is a wholly owned subsidiary of Nokia, which purchased the map maker in July 2008 after announcing the acquisition in late 2007.