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The giant Garmin announces the acquisition of Navionics, details on the financial deal confidential at this time, which represents major news for the world of electronic accessories.
Garmin announced that it has acquired Navionics S.p.A., a privately held global manufacturer of nautical charts and mobile applications for the marine industry.
“Navionics has long been known as a leading manufacturer of highly accurate nautical charts and mobile applications for mariners.” said Cliff Pemble, president and CEO of Garmin. “By combining Navionics content with Garmin’s BlueChart content, we will be able to offer the best coverage available in terms of breadth and depth of coverage, to our marine customers. Going forward, we intend to maintain the Navionics brand and continue to service Navionics’ existing customers.”
“Since its founding, Navionics has believed in and invested its passion in creating products that enhance the sailing experience,” said Giuseppe Carnevali, founder and president of Navionics. “Garmin shares our passion to serve the marine industry, and is the ideal company to carry on Navionics’ great reputation and strong brand.”
Navionics has developed the world’s largest archive of navigational charts for sea, rivers, and lakes. Many of these charts were developed through Navionics’ proprietary surveys, carried out both on the water and by remote sensing, such as through satellite imagery and aerial surveys.
Navionics has its operational headquarters in Viareggio, Italy, and employs more than 350 employees worldwide, who will retain their jobs. The financial terms of the acquisition will not be disclosed.
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