Telenav Special Committee Confirms Receipt of Non-Binding “Go Private” Proposal

SANTA CLARA, Calif.--(BUSINESS WIRE)--Telenav®, Inc. (the “Company”) (NASDAQ: TNAV), a leading provider of connected-car and location-based services, today confirmed that it has received a proposal from V99, a Delaware corporation led by HP Jin, Co-Founder, President and Chief Executive Officer of Telenav, to acquire all of the outstanding shares of Telenav for $4.32 per share in cash in a “go private” transaction structured as a reverse triangular merger.