After Tele Atlas NV announced its sale to TomTom NV for $2.6 billion, a CIBC World Markets Corp. analyst said digital mapping company Navteq Corp. is primed to follow suit. The analyst said Garmin Ltd., which makes handheld satellite-based navigation devices, might make a bid for Navteq. On that note, shares of the Chicago firm climbed approximately 4% Monday, but surrendered 1% in trading Tuesday morning. Navteq had net revenue of $581 million in 2006, which has been increasing at a rate of about $100 million annually since 2002.

Of note in March, Navteq completed a $177 million cash-and-stock deal to acquire Traffic.com Inc., a provider of real-time traffic reports.

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