Mitac acquired GPS-business company Magellan

Taiwanese company Mitac, known to us their GPS-navigators Mio, announced the acquisition of American companies Magellan. It is about buying a GPS-business California Magellan, including assets, trademarks, intellectual property, etc. The amount of the transaction is not clearly defined, but already knows that it will not exceed $ 96 million specific amount will be determined in January 2009, depending on the performance of the market. At the same time, and will complete the transaction itself.

The company Magellan is one of the leading market for GPS-navigators in North America. Portfolio is divided into three series - RoadMate and Maestro intended for use in cars, while Triton is aimed at athletes and tourists.

By the way, in March 2007 Mitac already acquired Navman, and still offers the products under that brand. The same fate probably awaits, and Magellan, so the device under this brand will be sold still quite a long time.