Ride hailing app operator Uber has acquired US-based geospatial data and navigation system provider DeCarta, giving an exit to telecommunications company Deutsche Telekom and retail chain Best Buy, Mashable reported on Wednesday.
Uber has since confirmed the acquisition but has not disclosed financial details. A spokeswoman told GigaOM Uber has acquired other startups over the past five months but has not revealed their identities.
Uber will incorporate DeCarta’s technology into its app in order to fine-tune estimated arrival times. The deal came in the wake of news last month that internet company Google, which currently provides Uber’s maps, plans to launch a rival taxi hailing service at some point in the future.
DeCarta had secured approximately $70m in venture funding, including a $21.5m series C round in 2008 that featured T-Mobile Venture Fund, a corporate venturing vehicle of telecommunications company Deutsche Telekom, and Best Buy.
Other shareholders in DeCarta included Ford Venture Capital, the corporate venturing arm of Ford Motor Company which invested in 2005, Hotung Group, TransLink Capital, Norwest Venture Partners, Cardinal Venture Capital and Mobius Venture Capital.