Garmin acquires Active Corporation – Developer of a leading electronic marine database.
UK/May 9, 2017/Business Wire —Garmin Ltd. (NASDAQ: GRMN) today announced that it has acquired Active Corporation, a developer of crowd sourced rich content for boaters, marketed as ActiveCaptain™.
ActiveCaptain is a community based, electronic marine database that contains near real-time information about marinas, anchorages, local points of interest, and marine hazards – most of which is user-generated – for cruising and sailing destinations around the world. The database boasts more than 250,000 users and can be accessed via web browser or a variety of mobile applications.
“There is really nothing else out there that compares to the depth and breadth of the ActiveCaptain database,” said Cliff Pemble, Garmin president and CEO. “Mariners rely on ActiveCaptain to make their voyages better informed and more enjoyable, and we are delighted to add this technology to the Garmin portfolio.”
“Garmin is a technology leader among boaters of all types, and we are looking forward to working with them to make ActiveCaptain even more robust and global,” said Jeffrey Siegel, co-owner and co-founder of ActiveCaptain. “Garmin has extensive engineering and cartography capabilities that will allow ActiveCaptain to be deeply integrated into their product offerings.”
The founders and sole employees of ActiveCaptain, Karen and Jeffrey Siegel, will become employees of Garmin International. Financial terms of the acquisition will not be released.
For over 25 years, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. Follow us at facebook.com/garmin, twitter.com/garmin, or youtube.com/garmin.
About Garmin Ltd.
Garmin Ltd. is incorporated in Schaffhausen, Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark 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 31, 2016, 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.
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