Dutch tech company TomTom $TMO.SW , recognized globally for its digital maps and navigation systems, outperformed market expectations with its first-quarter 2024 results. Even a marginal revenue increase signaled a positive turn for the brand, especially following a turbulent 2023. The key to this outperformance was TomTom’s strategic focus on cutting-edge automotive location technologies ― a segment that continues to play a pivotal role in shaping the company’s growth trajectory.

German semiconductor manufacturer Infineon Technologies has announced a significant step towards strengthening its position in the automotive technology sector. On Monday, the company revealed an agreement with Marvell Technology to acquire its Ethernet business division, which specializes in automotive networks. Valued at $2.5 billion, this deal aims to enhance Infineon's microcontroller segment, a key growth driver within the automotive sector.