Garmin is enhancing its position in the fitness and training industry by acquiring one of its key component suppliers, Dynastream for $36 million in cash. The Alberta-based company will continue to operate as a wholly-owned subsidiary of Garmin. Dynastream has provided heart rate and wireless foot pod technology components to Garmin for use in their Forerunner and Edge products.
The company employs approximately 50 people including over 25 engineers and scientists.
Garmin is enhancing its position in the fitness and training industry by acquiring one of its key component suppliers, Dynastream for $36 million in cash. The Alberta, Canada-based company will continue to operate as a wholly-owned subsidiary of Garmin. Dynastream has provided heart rate and wireless foot pod technology components to Garmin for use in their Forerunner and Edge products. The company employs approximately 50 people including over 25 engineers and scientists. The acquisition is expected to be neutral to Garmins earnings in 2006.
“Dynastream is known for technology innovations like the ANT wireless interface protocol which can be utilized by a wide variety of Garmin products including those designed for aviation, marine, and outdoor use,” said Dr. Min Kao, chairman and CEO of Garmin Ltd. “Dynastream shares our passion for technology leadership and customer-focused innovation.”
