Garmin Ltd. (NYSE:GRMN), acquired Vesper Marine, a provider of AIS, VHF and vessel monitoring solutions for the marine industry.
The amount of the deal was not disclosed.
This acquisition is expected to bolster Garmin’s lineup of marine products and technology designed to provide enhanced situational awareness for boaters.
Led by Carl Omundsen, co-founder, Vesper has developed a suite of communication products and solutions for power, sail and workboats, including the Cortex system. Cortex combines a state-of-the-art VHF radio with Vesper’s smartAIS transponder and remote vessel monitoring technology. Its smartAIS transponders incorporate built-in alarms to alert mariners of potential collisions, dragging anchors and man overboard situations. The company also offers mobile apps to monitor, view and manage a Cortex system or smartAIS transponder for iOS and Android devices.
With almost 15 years of experience, Vesper Marine is headquartered in Auckland, New Zealand and will join Garmin’s existing team and facility located in Auckland.
FinSMEs
03/01/2021