MiTAC to Acquire Navman
MiTAC International Corporation announced that it has signed a definitive agreement with Brunswick Corporation to purchase their Brunswick New Technologies (BNT) portable navigation device business, better known as Navman.
The acquisition of BNT’s portable navigation business will further consolidate MiTAC as a leading player in the PND industry. Combining BNT’s vast experience in the development of user-friendly PNDs and its established global sales and distribution networks with MiTAC’s strengths in manufacturing and R&D, the acquisition creates a strategic partnership that complements the strengths of both companies. Under MiTAC, the operations of the Navman brand will be kept independent from its own Mio DigiWalker brand.
"MiTAC and Navman are quite complementary in terms of their occupation and marketing channels in different markets," said Billy Ho, MiTAC International Corporation president. "The acquisition brings together two companies with established competencies in the development of PNDs and will enhance MiTAC’s ability to bring innovative and cutting-edge portable navigation solutions to the marketplace."
The acquisition of BNT’s portable navigation business will be formally conducted by MiTAC International Corporation’s overseas subsidiary, Silver Star Development Ltd. As part of the transaction, MiTAC will also gain BNT’s overseas subsidiaries including, Navman Europe Ltd., Naviart Ltd. (Hong Kong) and Navman Information Technology Ltd. (China), which encompass sales, marketing and R&D operations.
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