Garmin has completed its acquisition of GPS competitor Navigon.
Garmin announced back in June that it had signed an agreement to purchase Navigon, but the acquisition was only completed – for an undisclosed amount – last week.
It’s not yet clear what the acquisition has in store for Garmin Australia, as it has yet to release a statement on the matter.
CNET Australia reached out for a comment, but received the following response:
“It's too early to discuss specific plans for the integration of the brands locally. Now that the closing is complete, we are in the process of evaluating the presentation of our respective brands in light of our goal to better serve our customers. Navigon has new products that have been in development, and we are excited to introduce these products jointly at IFA on September 1, 2011. We will keep you in the loop.”
The acquisition means that Garmin will acquire one of the top-selling navigation apps for the iPhone and Android platforms, which is key in any GPS device manufacturer’s product line, as dedicated devices have been losing ground to smartphones for years. Garmin had yet to enter the smartphone app market.
Garmin will also acquire Navigon’s European market share, as well as its OEM automotive navigation technologies.