Garmin snaps up rival Navigon
Garmin has announced that it has completed the takeover of Navigon, with the German company set to become a subsidiary of the Kansas-based satnav giant.
The cost of the takeover is undisclosed although it is widely accepted that Garmin's main focus with regards to Navigon was its popular mobile apps. With satnavs struggling in a world now dominated by smartphones and tablets it's becoming increasingly important for satnav manufacturers to get their GPS-based apps in order.
Garmin's StreetPilot app is not thought to be doing as well as Navigon's mobile suite - MobileNavigator - which is available on iOS, Android, Windows Phone and other PDAs.
"This acquisition is a great complement to Garmin’s existing automotive and mobile business," said Cliff Pemble, Garmin’s president and COO.
"With Navigon, we are also acquiring one of the top-selling navigation applications for the iPhone and Android platforms - something that we expect will help drive revenue for the combined company going forward.
"Combining Navigon’s and Garmin’s strength also improves our competitiveness and standing particularly in Europe."