Garmin completed the acquisition of Navigon
Garmin, the global leader in satellite navigation, announced today that it has completed the acquisition of Navigon AG (”Navigon”), a privately-held navigation provider headquartered in Hamburg, Germany.
“We are pleased to have the Navigon team join the Garmin family,” said Cliff Pemble, chairman and COO of Garmin Ltd. “We are looking forward to expanding our ability to serve our collective customers going forward.”
“We are pleased to have the Navigon team join the Garmin family,” said Cliff Pemble, chairman and COO of Garmin Ltd. “We are looking forward to expanding our ability to serve our collective customers going forward.”
“We are excited to be a part of Garmin and we look forward to turning our efforts toward integration and the opportunities ahead,” said Egon Minar, Navigon’s board member. “Navigon has an innovative new product lineup that we’re excited to bring to market in time for the holiday 2011 season and beyond.”
Financial terms of the transaction were not released.
Since its inception in 1989, Garmin has delivered 85 million GPS enabled devices ? far more than any other navigation provider. Garmin’s market breadth in the GPS industry is second to none, having developed innovative products and established a leadership position in each of the markets it serves, including automotive, aviation, marine, fitness, outdoor recreation, tracking, and wireless applications.
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