News of Garmin's plans to acquire Navigon leaked out earlier this month, but we now have official word that the GPS giant will bring the smaller German company under its wing beginning in late July. Pending regulatory approval, the deal would have Navigon, one of the largest GPS brands in Europe, functioning as a subsidiary of Garmin, which has a much stronger presence in North America. The companies were unable to reveal any financial information, though previous estimates priced the deal in the 'mid-double-digit million' Euro range. Navigon says it's not ready to share any details concerning the acquisition, but we're unlikely to see major effects in the US, where the company has smartphone apps but hasn't sold dedicated GPS devices in several years.
Continue reading Garmin to purchase Navigon, plans to complete acquisition by late July
