Garmin® Acquires Assets of iKubu®, Developer of Backtracker Bike Radar

Garmin Ltd. (NASDAQ: GRMN) today announced that it has acquired the
assets of iKubu (Pty) Ltd., a privately-held designer of computer vision
and radar systems for the cycling market.

iKubu was in the final stages of developing the Backtracker low-energy
bike radar, a device that provides unparalleled situational awareness by
giving the cyclist the speed and distance of vehicles that are
approaching from behind. The road is scanned by a rear-facing radar
module that also doubles as a dynamically flashing caution light, and
the information is sent wirelessly to a handlebar-mounted head unit.

“iKubu has found a way to implement short-range radar into a low-power
system that addresses a common concern among cyclists – identifying
potential hazards that are approaching them from behind,” said Cliff
Pemble, Garmin’s president and CEO. “We are delighted to add this
technology to the Garmin portfolio.”

“Garmin is a technological leader among cyclists, and we are looking
forward to integrating our technology and expertise into their
outstanding products,” said Franz Struwig, managing director of iKubu.
“Garmin gives us the resources to develop, bring to market, and showcase
our products that we otherwise would not have.”

Most of the former employees of iKubu will become employees of Garmin’s
existing subsidiary in South Africa and will continue to operate
primarily as a research and development center based in Stellenbosch,
South Africa. Financial terms of the acquisition will not be released.

For 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. For more
information, visit Garmin’s virtual pressroom at garmin.com/newsroom,
contact the Media Relations department at 913-397-8200, or 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.

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