NEW YORK, May 20, 2010 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange company, announced that the trading of TeleNav, Inc. commenced May 13 on The NASDAQ Stock Market. TeleNav trades under the ticker symbol (Nasdaq:TNAV).
"We are thrilled to see TeleNav, one of the leading providers of location based services, listed among some of the biggest names in the technology, biotech and social media sectors on The NASDAQ Stock Market," said Bruce Aust, Executive Vice President, Corporate Client Group, NASDAQ OMX. "NASDAQ recently celebrated its 20-year anniversary in Silicon Valley, and this newest addition to the NASDAQ family of companies further underscores our commitment to supporting economic growth, innovation and entrepreneurship in the region."
The 203 NASDAQ-listed companies based in Silicon Valley represent approximately 7% of all NASDAQ companies, and there are currently 28 NASDAQ-100 Index companies headquartered in the area. Between 2009 and 2010 YTD, NASDAQ has captured 20 technology IPOs -- five times the number of technology IPOs listed on the NYSE during the same period.
TeleNav, Inc. is a leading provider of location based services, or LBS, including voice guided navigation, on mobile phones. TeleNav's LBS solutions provide consumers and enterprises with convenient and easy to use, location specific, real time and personalized features and functions. TeleNav's flexible and proprietary LBS platform enables it to efficiently provide its LBS to millions of end users, across more than 500 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav's service providers include Alltel, AT&T, Bell Mobility, Boost Mobile, China Mobile, Cincinnati Bell, NII Holdings, Rogers, Sprint Nextel, T-Mobile UK, T-Mobile USA, Telcel, Telecom Italia Mobile, Verizon Wireless and Vivo Brazil. TeleNav's other partners include Ford Motor Company, Hewlett-Packard, HTC, INRIX, LG, Motorola, NAVTEQ, Nokia, Palm, Qualcomm, Research In Motion, Samsung, Sanyo and Tele Atlas. TeleNav is headquartered in Sunnyvale, California.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein may contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to, factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Neither The NASDAQ OMX Group, Inc., nor any of its affiliates (collectively "NASDAQ OMX") makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Investors should undertake their own due diligence and carefully evaluate companies before investing.
CONTACT: The NASDAQ OMX Group, Inc. Media Contact: Marisha Chinsky (646) 441-5258 Marisha.Chinsky@nasdaqomx.com
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