Garmin on Thursday announced that it has entered into an agreement to acquire substantially all of the assets of DeLorme, a privately-held company that designs and markets consumer-based satellite tracking devices with two-way communication and navigational capabilities.
The completion of the acquisition, which is subject to customary conditions, is expected to occur within 30 to 60 days.
According to a Garmin release announcing the deal, one of the coveted aspects of DeLorme's portfolio is its inReach series of two-way satellite communication devices. The GPS-enabled devices allow a user to send and receive satellite text messages or trigger an SOS for emergency help, anywhere in the world. In addition to inReach, DeLorme has an extensive library of digital cartography and enterprise GIS software, as well as traditional mapping.
“DeLorme is a respected brand with exciting products and technologies that are a natural fit in the Garmin portfolio,” said Cliff Pemble, Garmin’s president and CEO. “We look forward to completing the acquisition and welcoming them onto our team. We are looking forward to leveraging their expertise to further enhance the Garmin lineup of products.”
Garmin will retain most of the associates of DeLorme and will continue operations at its existing location in Yarmouth, Maine, following the completion of the acquisition. The Yarmouth facility will operate primarily as a research and development facility and will continue to develop two-way satellite communication devices and technologies.
