Advised General Atlantic on the sale of navigation provider NAVIGON to Garmin
Jun 2011
(a portfolio company of General Atlantic)
acquired by
  • Sector: Systems & Deep Tech
  • Deal Type: Strategic Deals; Private Equity Deals
  • Engagement type: Sellside
  • Size: <$200m
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Arma Partners is pleased to announce that it has acted as exclusive financial advisor to General Atlantic LLC on the sale of NAVIGON AG (“NAVIGON”) to Garmin Ltd. (NASDAQ: GRMN) (“Garmin”).

NAVIGON AG is a leading global navigation company with subsidiaries in Europe, Asia and North America. NAVIGON products include high-quality personal navigation devices and top-selling navigation software for smartphones and automotive applications. NAVIGON has c. 7% share in portable navigation devices in Europe.

Garmin is a leader in providing GPS enabled devices for automotive, aviation, marine, fitness, outdoor recreation, tracking and wireless applications. Within the automotive sector, Garmin provides a broad range of in-vehicle electronics including infotainment and telematics systems, navigation software and integrated portable navigation systems.

The transaction creates a leader in automotive and mobile navigation applications. By leveraging Garmin’s global market reach, NAVIGON will enhance its competitiveness in the automotive OEM business beyond the borders of Germany and Europe. In addition, the combination of the Garmin brand alongside NAVIGON’s top-selling navigation applications for the iPhone and Android platforms will help drive revenue for the combined company.

– 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