Garmin Buying Navigon
Garmin Tuesday announced that it has agreed to acquire Navigon AG. Financial terms of the deal were not released.
“This acquisition is a great complement to Garmin’s existing automotive and mobile business," Cliff Pemble, Garmin’s president and COO, said in a statement. "Navigon has invested significantly in the European automotive OEM business, and we feel that we can rapidly expand our automotive OEM footprint and capabilities through this transaction."
Navigon will become a subsidiary of Garmin.