Garmin ® Ltd. (GRMN) - Get Garmin Ltd. Report, today announced it has acquired Vesper Marine, a privately-held provider of AIS, VHF and vessel monitoring solutions for the marine industry. This acquisition is expected to bolster Garmin's industry-leading lineup of marine products and technology designed to provide peace of mind and enhanced situational awareness for boaters.
With almost 15 years of experience, Vesper has developed a suite of communication products and solutions for power, sail and workboats, including the award-winning Cortex system. Cortex combines a state-of-the-art VHF radio with Vesper's unique smartAIS transponder and remote vessel monitoring technology. Vesper's smartAIS transponders incorporate built-in alarms to alert mariners of potential collisions, dragging anchors and man overboard situations. The company also offers mobile apps to monitor, view and manage a Cortex system or smartAIS transponder for iOS and Android devices.
"Vesper has pioneered a number of innovations in the marine communications space, with recognition across the industry for its emphasis on user-friendly and intuitive interfaces that make it easier to communicate on the water," said Jarrod Seymour, Garmin vice president, marine segment leader. "Together with the Vesper team, we look forward to providing an unmatched portfolio of integrated marine communications products and services to our customers."
"We are excited to have the support from a marine technology leader like Garmin," said Carl Omundsen, Vesper Marine co-founder. "This combination will allow Vesper to expand its capabilities and integration into the marine communication market to make an even greater impact in the boating industry."
Vesper Marine is headquartered in Auckland, New Zealand and will join Garmin's existing team and facility located in Auckland. Financial terms of the acquisition will not be released.
Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most innovative, highest quality and easiest to use marine electronics in the industry, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the seventh consecutive year, Garmin was recently named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Other Garmin marine brands include Fusion ® and Navionics ®. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, email email@example.com, or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin or youtube.com/garmin.
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