Schaffhausen, Switzerland and Auckland, New Zealand/June 30, 2014/Business Wire — Garmin Ltd. (NASDAQ: GRMN), the global leader in satellite navigation, today announced that it has completed the acquisition of Fusion Electronics Limited and its subsidiaries.
Based in Auckland, New Zealand, the new company will be known as Garmin New Zealand Limited, a wholly owned subsidiary of Garmin Ltd., and will operate as “Fusion Entertainment.” Substantially, all the Fusion product line will remain available, as will support for the company’s existing products. Fusion Entertainment will continue to support all Fusion-Link™ partners accordingly.
Fusion offers an innovative range of integrated marine audio products and accessories, many of which are designed for use in a challenging marine environment. Fusion’s flagship head unit, the 700 Series, allows boaters to connect and control their audio through select marine multifunction displays (MFDs), and select multi-zone audio configuration specific to their vessels.
Financial terms of the acquisition will not be released.
About Garmin Ltd.
Through its operating subsidiaries, Garmin Ltd. designs and manufactures navigation, communication and information electronics. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor, fitness, automotive, mobile and OEM applications. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit the media relations site of Garmin Ltd. at www.garmin.com or contact the media relations department at 913-397-8200. Garmin is a registered trademark of Garmin
Ltd. Fusion and Fusion Link are registered trademarks of Garmin Ltd. or its subsidiaries.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2013, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.