Navico and C-Map merge - Trade Only Today

Navico and C-Map merge

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Navico and C-Map announced that they have merged. Financial terms were not disclosed.

The parent of Lowrance, Simrad and B&G said C-Map would become a standalone brand in the Navico portfolio, adding that the companies had a “shared ambition” to create the “world’s biggest digital marine ecosystem.”

“This merger is an incredible opportunity to drive innovation in the marine industry and lead a new digital era,” said Leif Ottosson, Navico Group CEO, in the statement. “We see huge potential to bring our two teams together to accelerate growth.”

Sean Fernback, former CEO of C-Map and now chief technology officer of the Navico Group, said the two companies have an opportunity to create a “seamless experience by developing an ecosystem that combines the best hardware, software, services and applications.”

The merger is effectively immediately.

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