Friday October 27th: Garmin Ltd. announced that it has acquired Navionics, a provider of marine navigational tools world-wide.
Garmin CEO and president, Cliff Pemble noted, "Navionics has long been known as a leading provider of highly accurate navigational charts and mobile applications for boaters. By combining Navionics' content with Garmin's... we will be able to offer the best available breadth and depth of coverage to our marine customers. Going forward, we plan to retain the Navionics brand and support existing Navionics customers."
Navionics' president, Guiseppe Carnevali expressed great hope for the future of the two companies as one, stating that "Garmin shares [Navionics'] passion for serving the marine industry and is an ideal company to carry the strong brand and reputation of Navionics into the future."
In addition to developing a popular mobile boating application, Navionics has provided a substantial repository of navigational charts and maps of major water bodies. Many of which were created using remote sensing, including satellite imagery and airborne laser sensors.
While no financial details of Garmin's acquisition will be released, Navionics is headquartered in Viareggio, Italy and the 350 global employees will be maintained.