Magellan Selling Consumer Division to MiTAC

On Monday, December 15th, Magellan Navigation announced that it is selling its consumer products division to MiTAC International, which also owns Mio. The deal is expected to close mid-January. The Magellan consumer products division is the creator of the Magellan RoadMate, Maestro and Triton product lines.

image

This move does not come entirely by surprise, as there has been considerable speculation about the future of Magellan’s consumer products division for the past several months.

There has been no official word yet from MiTAC’s concerning its plans for the Magellan product line — if it will remain independent from Mio or if the brands will merge. More details will likely emerge at next month’s Consumer Electronics Show.

Here’s the full news release:

Magellan Enters into Definitive Agreement to Sell the Magellan Consumer Products Division to MiTAC International Corporation

SANTA CLARA, Calif., Dec. 15 /PRNewswire/ — Magellan Navigation, Inc. today announced it has entered into a definitive agreement to sell the Magellan consumer products division to MiTAC International Corp. Closing of the transaction is anticipated in January of 2009. Financial terms are not disclosed.

Recognized as an industry innovator, the Magellan consumer products division is the creator of the award-winning Magellan(R) RoadMate(R) and Maestro(TM) series portable car navigation systems, and the Magellan Triton(R) outdoor handheld navigation devices. The company is recognized worldwide through its Magellan brand.

Tags: , , , ,

One Response to “Magellan Selling Consumer Division to MiTAC”

  1. June 1, 2009 at 9:59 pm #

    Enjoying reading your blog. Hard work always pays off.

Leave a Reply