Signet S.A. says a wholly owned subsidiary has entered into an agreement with Jeppesen Marine for the purchase of its Nobeltec division, which provides electronic navigation products.
Terms of the sale were not disclosed, and completion of the transaction is expected in the fourth quarter.
Nobeltec will become part of Signet's portfolio, which includes the ownership of MaxSea and MapMedia, among other marine navigation companies.
"We envision a bright future and partnership for MaxSea and Nobeltec, and we are excited about the innovations and technologies that will be forthcoming," said Brice Pryszo, founder and president of Signet, in a statement.
Nobeltec products will continue to be compatible with Jeppesen Marine's Passport and MAXPro brand of electronic chart data products, according to the company. It will remain based in Portland, Ore.