Garmin completes acquisition of DeLorme
Schaffhausen,
Switzerland and Yarmouth, ME — March 3, 2016 — Garmin Ltd.
(NASDAQ: GRMN) announced today that it has completed the acquisition
of DeLorme, a privately-held company that designs and markets
consumer based satellite tracking devices with two-way communication
and navigational capabilities.
"We are pleased to have the
DeLorme team join the Garmin family," said Cliff Pemble, president
and CEO of Garmin. "We are looking forward to leveraging the
outstanding expertise and skills of the DeLorme team to enable the
development of innovative products that will enhance the lives of
our customers."
DeLorme pioneered the inReach series of
affordable two-way satellite communication devices for the consumer
market. These GPS-enabled devices allow the user to send and receive
satellite text messages or trigger an SOS for emergency help,
anywhere in the world. In addition to inReach, DeLorme has an
extensive library of digital cartography and enterprise GIS
software, as well as traditional mapping.
Garmin will retain
most of the DeLorme associates and will continue operations at its
existing location in Yarmouth, Maine. The facility will operate
primarily as a research and development office and the team will
continue to develop two-way satellite communication and cartographic
solutions. Financial terms of the transaction were not released.
About Garmin Ltd.
Garmin Ltd. is incorporated in
Schaffhausen, Switzerland, and its principal subsidiaries are
located in the United States, Taiwan and the United Kingdom. Garmin
is a registered trademark of Garmin Ltd. or its subsidiaries.
