Garmin CEO confirms acquisition of Navionics
Article Media Click images to enlarge +
Garmin Ltd, the multinational marine electronics manufacturer, has acquired Navionics, the Italian producer of navigational charts for the marine industry. Financial terms have not been disclosed.
Garmin plans to retain the Navionics brand and its global staff of more than 350. It will also continue to support existing customers.
“Navionics has long been known as a leading supplier of navigational charts and mobile applications for boaters,” said Garmin’s President and CEO, Cliff Pemble. “By combining Navionics’ content with Garmin’s BlueChart and LakeVü content, we will offer the best available coverage to our marine customers.”
Navionics founder and President Giuseppe Carnevali said that Garmin was the ideal company to carry the strong brand and reputation of Navionics into the future.
Headquartered in Viareggio, Navionics produces a popular boating app as well as a large range of nautical charts for oceans, rivers and lakes. It operated subsidiaries in the UK, Australia, India and the US.
Garmin, based in Olathe, Kansas, with corporate headquarters in Schaffhausen, Switzerland, also operates in the automotive, aviation, outdoor and sports markets. Last month it was named Manufacturer of the Year for the third consecutive year by the National Marine Electronics Association (NMEA) and dominated the Association’s product awards with eight wins.