YARMOUTH, Maine (BRAIN) — Garmin Ltd. has agreed to buy DeLorme, a privately-held, Maine-based company that designs and markets consumer GPS tracking devices with two-way communication and navigational capabilities.
DeLorme's inReach series of two-way satellite communication devices allow the user to send and receive satellite text messages or trigger an SOS for emergency help, anywhere in the world. DeLorme also has an extensive library of digital cartography and enterprise GIS software, as well as traditional mapping products.
"DeLorme is a respected brand with exciting products and technologies that are a natural fit in the Garmin portfolio," said Cliff Pemble, Garmin's president and CEO. "We look forward to completing the acquisition and welcoming them onto our team. We are looking forward to leveraging their expertise to further enhance the Garmin lineup of products."
"Our inReach technology is invaluable to hikers, hunters, boaters, and pilots who often find themselves in remote areas – Garmin's core customers. We are looking forward to completing the acquisition and are excited to help leverage our expertise into enhancing their already outstanding products," said Michael Heffron, the CEO of DeLorme. "Garmin has extensive R&D capabilities and a global distribution network that will allow us to provide this technology to customers across many markets and around the world."
Garmin said it will retain most of DeLorme's employees and will continue operations at its existing location in Yarmouth following the completion of the acquisition. The Yarmouth facility will operate primarily as a research and development facility and will continue to develop two-way satellite communication devices and technologies. Financial terms of the purchase agreement and acquisition will not be released.
