Garmin and TomTom are determined to take over Tele Atlas because they view ownership of digital maps as a crucial aspect of their business.
The new offer marks a 22 per cent premium over last week's €24.50 per share offer from Garmin valued at €2.3bn. Garmin is the world's largest personal navigation device maker.
TomTom first announced it intention to buy Tele Atlas in July with an offer of €1.8bn.
In addition to raising its offer, TomTom also said that it would acquire 28.3 per cent of Tele Atlas stock at €30 per share. The transaction included a 17.4 per cent stake that has already been committed to a TomTom acquisition.
Garmin did not immediately respond to a request for comment.
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