Taiwanese company Mitac International, a market leader in personal GPS-navigators, issued as OEM/ODM products and solutions under its own brand Mio, announced the acquisition of California company Magellan Navigation. The latter is also one of the prominent players in the market of GPS-devices that will allow Mitac increase their share in the global market navigators. According to an official statement, the purchase price will be about $ 96 million
The deal must commit at the beginning of January, with the buyer to obtain the surrender all assets, liabilities and operating resources, including the rights to trademarks owned by Magellan, developments in software, intellectual property, client base, retail chains, etc. With respect to the purchase price, there is still no accurate figures - the price will be determined by the market value of the company at the time the treaty enters into force on the purchase, but the maximum threshold is still installed - referred to above $ 96 million
Magellan Navigation Company at the time was a leader in the North American market Navigators, which provides for the sale of automotive navigators RoadMate and Maestro, as well as address a series of Triton. Buying the company will allow Magellan Mitac improve their competitiveness in the global market GPS-devices, the device under the trademark Magellan will be supplied to the market under the same brand. So, from that moment Mitac owns just three well-known trademarks:Mio, Navman, and Magellan.
is worth noting that Mitac has long cooperated with Magellan, in particular, it has supplied devices to OEM/ODM-agreements. But the most interesting thing is that the deal could hurt competitors to hit the Taiwan companies, among which are the Kinpo Electronics, Wistron and Foxconn. The fact is that the past is also supplying its own products company Magellan, and after the merger of orders for these vehicles will be reduced to zero.