Garmin Ltd. said today that it has acquired Navionics S.p.A., a privately held provider of electronic navigational charts and mobile applications for the marine industry.
The company said the financial terms of the acquisition will not be released.
“Navionics has long been known as a leading supplier of highly accurate navigational charts and mobile applications for boaters,” said Garmin president and CEO Cliff Pemble in a statement.
“By combining Navionics’ content with Garmin’s BlueChart and LakeVü content we will be able to offer the best available breadth and depth of coverage to our marine customers. Going forward we plan to retain the Navionics brand and will continue to support Navionics’ existing customers,” Pemble said.
Garmin acquired Active Corp., the developer of crowdsourcing boating platform ActiveCaptain, in May.
"The ink is barely dry on this acquisition and I can’t comment on what’s to come down the road, but I’m hopeful that the latest transactions — this and ActiveCaptain — will confirm our commitment to delivering the best products and services available in the marine industry," Garmin spokeswoman Carly Hysell said.
“Since our founding, Navionics has been passionate about creating products that enhance the boating experience,” said Giuseppe Carnevali, founder and president of Navionics. “Garmin shares our passion for serving the marine industry and is an ideal company to carry the strong brand and reputation of Navionics into the future.”
In addition to a popular boating app, Navionics has developed an extensive repository of nautical charts for oceans, rivers and lakes, Garmin said. Many of these charts have been developed with Navionics’ proprietary surveys, done in the field and with remote sensing, such as satellite imagery and airborne laser scanners.
Navionics is based in Viareggio, Italy, and employs more than 350 associates globally, who will be retained.