Navigation equipment and electronics manufacturer Garmin has announced the acquisition of Italian electronic navigation charts company Navionics.
Garmin announces acquisition of Navionics e-charting company
In a statement to the media, representatives Garmin noted that they plan to keep the brand Navionics, and stressed that the company's existing customers will continue to be served.
Besides the popular yacht app, we have developed an extensive database of nautical charts for oceans, rivers and lakes. Many of these maps have been developed using our own research. Navionicscarried out both in the field and using remote sensing such as satellite and aerial imagery and laser scanners.
Commenting on the takeover deal Navionics, President and CEO company Garmin Cliff Pamble said:
"Navionics has long been recognized as the market leader in high-precision nautical charts and mobile yachting applications. Combining the essence of Navionics with Garmin BlueChart® and LakeVüTM, we will be able to offer our customers the best high-end navigation product available. In the future, we plan to keep the Navionics brand and will continue to support our existing customers. Navionics", - he promised.
Garmin announces acquisition of Navionics e-charting company
Founded in 1984, the company Navionics based in Viareggio, Italy. Despite the change in management, all 350 employees of the company will retain their jobs. Plus, the founder and president Navionics Giuseppe Carnevali said that, in his opinion, Garmin exactly the one who understands the ethics of the brand and competently continues the activities of the company.
“Since its foundation Navionics became interested in creating products that improve yachting. Garmin shares our passion for developing the maritime industry and is the ideal company management contender capable of maintaining a strong brand and reputation Navionics in the future, ”he said.
As for the financial side, the data on the deal between the two companies has not yet been disclosed.
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