Garmin Ltd. has acquired EME Tec Sat SAS, the exclusive distributor of Garmin's consumer products in France. The acquisition is expected to be accretive to Garmin Ltd. earnings in 2007.
Following the acquisition, EME will change its name to Garmin France SAS. The company will retain its management, sales, marketing and supporting staff, consisting of approximately 50 people, and will continue to be located at its current headquarters in Nanterre, a suburb of Paris.
“EME has been instrumental in growing the sales of our consumer products in France. We believe that there is significant potential for further growth in this important European market,” said Dr. Min Kao, chairman and CEO of Garmin Ltd. “This acquisition will strengthen Garmin's presence in the French market and will enable us to expand our marketing and sales teams, and consequently, more effectively support our key retailers, OEMs and central purchasing groups in France.”
