Notice on Forward-Looking StatementsThis release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 31, 2016, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Garmin Ltd. (NASDAQ: GRMN), today announced that it has acquired Trigentic AB, a privately-held provider of intelligent products, solutions and services in the areas of embedded systems, power supply and power distribution for the marine and recreational vehicle (RV) market. The Trigentic components are marketed and sold under the EmpirBus brand. "The acquisition of Trigentic will allow Garmin to more completely serve marine and RV OEMs with a complete suite of multi-function displays, components, and the backbone that enables digital controls and smart boat features," said Cliff Pemble, Garmin president and CEO. "EmpirBus is widely respected among OEM providers, and we look forward to expanding their products globally." EmpirBus components help boat manufacturers deliver their customers' desires for a completely connected boat. With EmpirBus components and Garmin MFDs, cruisers, sailors, and anglers can easily control virtually any device on their vessel - from propulsion to pumps, air conditioning to infotainment. This connectivity enhances situational awareness and makes time on the water even more enjoyable. "We are delighted to team with Garmin, one of the most respected brands in the marine industry," said Magnus Jirhem, Trigentic CEO. "We are confident that Garmin can expand the footprint of our products and innovate new digital switching technologies for both the marine and RV markets." Trigentic is headquartered near Gothenburg, Sweden. Garmin plans to retain the facility and combine the talent of both teams to serve the marine market. Financial terms of the acquisition will not be released. Garmin is the world's leading marine electronics manufacturer 1 and was recently named Manufacturer of the Year for the third consecutive year by the NMEA, an honor given to the most recognized marine electronics company for support of products in the field. Garmin's portfolio includes some of the industry's most sophisticated chartplotters and touchscreen multifunction displays, sonar technology, high-definition radar, autopilots, high-resolution mapping, sailing instrumentation, audio, entertainment and other products and services that are known for innovation, reliability, and ease-of-use. Other Garmin marine brands include FUSION Entertainment, and Navionics, a premier supplier of electronic navigation charts. 1Based on 2016 reported sales. About Garmin Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, Fusion and Navionics are registered trademarks of Garmin Ltd. or its subsidiaries.