M&A Deal Summary

Garmin Acquires Vesper Marine

On January 3, 2022, Garmin acquired technology hardware company Vesper Marine

Acquisition Highlights
  • This is Garmin’s 5th transaction in the Technology Hardware sector.
  • This is Garmin’s 2nd transaction in New Zealand.

M&A Deal Summary

Date 2022-01-03
Target Vesper Marine
Sector Technology Hardware
Buyer(s) Garmin
Deal Type Add-on Acquisition

Target

Vesper Marine

Auckland , New Zealand
website
Vesper Marine is a provider of AIS, VHF and vessel monitoring solutions for the marine industry. Vesper Marine is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

Garmin

Schaffhausen, Switzerland

website


Category Company
Founded 1990
Sector Electronics
Employees15,000
Revenue 4.9B USD (2022)
DESCRIPTION
Entrance to Garmin's flagship retail store on Michigan Avenue in Downtown Chicago, Illinois.
Entrance to Garmin's flagship retail store on Michigan Avenue in Downtown Chicago, Illinois.

Garmin and its subsidiaries have designed, manufactured, marketed and sold navigation, communication and information devices and applications since 1989 – most of which are enabled by GPS technology. Garmin’s products serve automotive, mobile, wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin was founded in 1990 and is based in Schaffhausen, Switzerland.


DEAL STATS #
Overall 25 of 26
Sector (Technology Hardware) 5 of 5
Type (Add-on Acquisition) 24 of 25
Country (New Zealand) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-30 Firstbeat Analytics Oy

Jyvaskyla, Finland

Firstbeat Analytics Oy is a provider of consumer technologies licensing business in Jyvaskyla, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-07 JL Audio

Miramar, Florida, United States

JL Audio is a privately-held company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home and RV customers. JL Audio is based in Miramar, Florida.

Buy -