Garmin to Acquire Navigon; Terms Not Disclosed

Garmin Ltd. GRMN and Navigon AG announced today that Garmin Ltd. and the shareholders of Navigon AG have signed an agreement for a subsidiary of Garmin to acquire privately held navigation provider Navigon AG. Navigon will operate as a subsidiary of Garmin Ltd. The acquisition is subject to regulatory approvals and other customary closing conditions. Financial terms of the transaction will not be released.