Garmin signs deal to buy Interphase Technologies - Trade Only Today

Garmin signs deal to buy Interphase Technologies

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Garmin signed an agreement to acquire Interphase Technologies Inc., a privately held creator and manufacturer of phased array scanning sonar technology based in Soquel, Calif.

Financial terms of the agreement will not be released.

This transaction is expected to be finalized within the next 30 days and it will allow Garmin to expand its overall marine product portfolio, particularly in sonar technology.

“Interphase’s technology is a great complement to Garmin’s growing marine business,” Garmin president and COO Cliff Pemble said in a statement. “Like Garmin, Interphase shares our passion for innovation and support, and we feel that this transaction further solidifies our commitment to the marine market. By adding Interphase’s talents and technologies to the Garmin family, we believe we can leverage our areas of expertise into products that can greatly enhance a boater’s experience on the water.”

Founded in 1986, Interphase is recognized for its development of phased array scanning sonar. This technology offers a “reliable phased array scanning sonar solution for the consumer market, giving the cruiser, sailor, fisherman, search-and-rescue team and mainstream boater a virtual image of the underwater area ahead of the boat,” according to Garmin.

Interphase will operate as Garmin Santa Cruz Inc., a California corporation and indirect wholly owned subsidiary of Garmin Ltd. Key management will be retained, and sonar research and development will continue at its headquarters in Soquel.

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