Garmin Ltd. has completed the acquisition of Navigon AG, a privately-held navigation provider headquartered in Hamburg, Germany.
We are pleased to have the Navigon team join the Garmin family, said Cliff Pemble, chairman and COO of Garmin Ltd. We are looking forward to expanding our ability to serve our collective customers going forward.
We are excited to be a part of Garmin and we look forward to turning our efforts toward integration and the opportunities ahead, said Egon Minar, Navigons board member. Navigon has an innovative new product lineup that were excited to bring to market in time for the holiday 2011 season and beyond.
Financial terms of the transaction were not released.
