Garmin Acquires Navigon, GPS Industry Gets A Little Smaller
This world just isn't big enough for the both of 'em. At least that's the impression we get, as Garmin
has just announced the signing of a deal that will have them acquiring yet another navigation mainstay, Navigon. Actually, it's a subsidiary of Garmin that will do the acquiring, but it's still major news in the soft navigation market. Cliff Pemble, Garmin’s president and COO, obviously only had positive things to say about this whole ordeal: "This acquisition is a great complement to Garmin’s existing automotive and mobile business. Navigon has invested significantly in the European automotive OEM business, and we feel that we can rapidly expand our automotive OEM footprint and capabilities through this transaction. With Navigon, we are also acquiring one of the top-selling navigation applications for the iPhone and Android platforms – something that we expect will help drive revenue for the combined company going forward. Combining Navigon
’s and Garmin’s strengths also improves our competitiveness and standing, particularly in Europe."
While higher ups often pay lip service when things like this happen, this actually makes sense. TomTom beat everyone to the punch with an iOS navigation app, and Garmin lovers have had to pick a different option. With this, maybe that'll be different. Of course, the standalong GPS system is fading away as smartphones with suitable navigation programs take over. Consolidation in the industry, so to speak. Aside from helping out on the mobile front, it's hard to specifically say what these two will do together, but we wouldn't be surprised to see yet another similar acquisition in the future. Getting from point A to point B requires much fewer companies these days.