Shah Buys Navigation Business from Thales
Thales Navigation, the division of Thales responsible for the Magellan brand of navigation devices, will be bought out by an investment group led by Shah Capital Partners (SCP) according to an agreement announced Thursday. The new company, to be named Magellan Navigaion, Inc., will be located in San Dimas, Calif. In addition to creating the Magellan RoadMate and eXporista, Thales Navigation spawned the Hertz NeverLost car navigation system and best-selling ProMark single frequency GPS survey product line. Ajay Shah, managing partner of SCP, said, “We are excited to work with such an industry leader in the high-growth navigation market.” The acquisition is expected to be complete in Q3 2006.
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