Business Type: Manufacturer, Software Developer
UK & International Business Sales and M&A News
Marine electronics manufacturer Garmin has acquired the Italian-based developer of digital navigational charts Navionics adding to its existing marine software portfolio.
Navionics is a provider of electronic navigational charts and mobile applications for the marine industry. Founded in 1984, Navionics employs 350 staff worldwide and is known for its library of digital marine charts, developed by utilising remote surveying techniques such as satellite imagery and airborne laser scanners.
The charts are used with many of the leading electronics brands in the market including Navico, Raymarine and Humminbird, either bundled with specific products or sold as an optional extra. Navionics also offers a subscription-based navigational app ‘Boating’ which has more than 1 million downloads and is claimed to be the world’s leading boating app.
“Navionics has long been known as a leading supplier of highly accurate navigational charts and mobile applications for boaters. By combining Navionics’ content with Garmin’s BlueChart and LakeVü content, we will be able to offer the best available breadth and depth of coverage to our marine customers. Going forward, we plan to retain the Navionics brand and will continue to support Navionics’ existing customers.”
Cliff Pemble - Garmin President and CEO
Navionics is a privately-owned company based in Viareggio, Italy, with offices around the world.
“Since our founding, Navionics has been passionate about creating products that enhance the boating experience, Garmin shares our passion for serving the marine industry, and is an ideal company to carry the strong brand and reputation of Navionics into the future.”
Giuseppe Carnevali - Founder and President Navionics
Garmin has acquired Navionics for an undisclosed sum. Financial details and terms of the transaction were not revealed however Garmin says it will retain all of Navionics’ 350 strong workforce.
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