Garmin, a provider of satellite navigation,
has acquired Centro GPS, the distributor of Garmin’s automotive, outdoor
recreation, fitness and marine products in Chile.
Centro GPS will be renamed Garmin
Chile and will continue operations at its current facilities located in
Santiago, which employs approximately 25 associates.
“We are happy to welcome the Chilean team
into the Garmin family. Garmin is investing heavily in the emerging South
American market, and this is a key acquisition that will allow us to maintain a
leadership role in this important region,” said Min Kao, chairman and CEO of
Garmin.
The acquisition of Centro GPS is preceded by
Garmin’s opening of a Brazilian office in 2006, and represents its continued
commitment to the emerging South American market. Financial terms of the
transaction were not released.
Since its inception in 1989, Garmin has
delivered 88 million GPS enabled devices. Garmin’s market breadth in the
GPS industry is second to none, having developed innovative products and
established a leadership position in each of the markets it serves, including
automotive, aviation, marine, fitness, outdoor recreation, tracking, and
wireless applications.
By Telecomlead.com Team
editor@telecomlead.com
