Marine electronics company, Garmin, has announced it has bought the electronic navigational charts firm, Navionics
Garmin has bought the Italian electronic navigation charts company, Navionics.
In a media statement, Garmin said it would be retaining the Navionics brand, and stressed the firm’s existing customers would continue to be supported.
In addition to a popular boating app, Navionics has developed an extensive database of nautical charts for oceans, rivers, and lakes.
Many of these charts have been developed with Navionics’ proprietary surveys, done both in the field and with remote sensing such as satellite imagery and airborne laser scanners.
Commenting on the takeover, the president and CEO of Garmin, Cliff Pemble, said: “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 LakeVüTM 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,” he promised.
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Founded in 1984, Navionics is based in Viareggio, Italy. All of its 350 staff will be retained.
The founder and president of the Italian firm, Giuseppe Carnevali, said he believed Garmin would continue the brand’s ethos.
“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,” he said.
The financial details of the deal between the two company are not being made public.