– NAVIGON is a leading global navigation company
– NAVIGON products include high-quality personal navigation devices and top-selling navigation software for smartphones and automotive applications
– The company was founded in 1991 in Germany with subsidiaries in Europe, Asia and North America
– Garmin designs, develops and manufactures global positioning system (GPS) enabled products worldwide
– Garmin operates in four segments: Automotive/Mobile, Outdoor/Fitness, Marine, and Aviation
– The company was founded in 1989 and is domiciled in Neuchatel, Switzerland
– Garmin is acquiring one of the top-selling navigation applications for the iPhone and Android platforms — an asset that will help drive revenue for the combined company going forward
– NAVIGON is also complementary to Garmin’s existing automotive and mobile business. NAVIGON had already invested significantly in the European automotive business and expands Garmin’s automotive footprint and capabilities
– NAVIGON had a strong tradition of innovation and as such held a valuable portfolio of OEM technology that strengthens Garmin’s offering
– The combination creates a market share leader in German speaking and Nordic geographies in particular, boosting by 7-8% the market share of Garmin in the European PND market overall
– Arma Partners was engaged by General Atlantic to co-ordinate the acquisition process and provide full support including financial modeling, valuation defense and contract negotiations
– Arma Partners played a central role in initiating contact with the eventual buyer, price negotiations and eventually enabling the transaction