Garmin - M&A Summary and Business Overview

ElectronicsCompany

Garmin M&A Summary

Garmin has acquired 26 companies, including 4 in the last 5 years. A total of 1 acquisition came from private equity firms.

Garmin’s largest acquisition to date was in 2007, when it acquired Digital Cyclone for $45M. Garmin has acquired in 6 different US states, and 15 countries. The Company’s most targeted sectors include distribution (31%) and technology hardware (20%).

Garmin Business Overview

Where is Garmin headquartered?

Garmin is headquartered in Schaffhausen, Switzerland.

What is Garmin’s revenue?

Garmin disclosed revenue of 4,860M USD for 2022 and 4,983M USD for 2021.

How many employees does Garmin have?

Garmin has 15,000 employees.

What sector is Garmin in?

Garmin is an electronics company.

When was Garmin founded?

Garmin was founded in 1990.

M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity26
  • Total Sectors Invested 9
  • Total Countries Invested 15
  • M&A Buy/Sell Connections 2

Garmin

Garmin Ltd.

Muhlentalstrasse 2,
Schaffhausen, 8200
Switzerland,
+41 52 630 1600
www.garmin.com

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.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 23 1 - 1 1 - 26
vol $81M $81M
Sell (0.0/yr) # - - - - - - 0
  26

Most Recent M&A

Company Date Value Type
JL Audio, Inc. 2023-08-07 - Add-on Acquisition
Miramar, Florida · www.jlaudio.com
Vesper Marine 2022-01-03 - Add-on Acquisition
Auckland , New Zealand · www.vespermarine.com
Firstbeat Analytics Oy 2020-06-30 - Divestiture
Jyvaskyla, Finland
Tacx Onroerend en Roerend Goed B.V 2019-02-12 - Add-on Acquisition
Wassenaar, Netherlands · www.tacx.nl
Flight Plan LLC 2018-08-29 - Add-on Acquisition
, United States · www.flttrack.fltplan.com
Trigentic AB 2018-02-20 - Add-on Acquisition
Uddevalla, Sweden · www.empirbus.com
Navionics SpA 2017-10-27 - Add-on Acquisition
Massarosa, Italy · www.navionics.com
Alphamantis Technologies, Inc. 2017-07-20 - Add-on Acquisition
Montreal, Quebec · www.alphamantis.com
Active Corp. 2017-05-11 - Add-on Acquisition
Guarulhos, Brazil · www.activecorp.com.br
Iiyonet, Inc. 2016-09-30 - Add-on Acquisition
Fujimi, Japan · www.iiyo.net
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Garmin International, Inc.    - UPS Aviation Technologies, Inc. 2003-07-24 4
Olathe, Kansas Salem, Oregon

M&A by Sector

Sector Buy # Value Sell # Value
Distribution 8 (31%) - - -
Technology Hardware 5 (19%) - - -
Electronics 3 (12%) 36M (44%) - -
Information Services 2 (8%) - - -
Information Technology 2 (8%) - - -
Internet Software and Services 2 (8%) 45M (56%) - -
Test/Measurement Equipment 2 (8%) - - -
Electrical Equipment 1 (4%) - - -
Marine 1 (4%) - - -
Total 26 $81M - -

By Geo

State/Country Buy Value Sell Value
United States 7 45M - -
  California 2 - - -
  Oregon 1 - - -
  Minnesota 1 45M - -
  Michigan 1 - - -
  Florida 1 - - -
Canada 2 36M - -
  Quebec 1 - - -
  Alberta 1 36M - -
Finland 2 - - -
Germany 2 - - -
Italy 2 - - -
New Zealand 2 - - -
Belgium 1 - - -
Brazil 1 - - -
Denmark 1 - - -
France 1 - - -
Japan 1 - - -
Netherlands 1 - - -
South Africa 1 - - -
Spain 1 - - -
Sweden 1 - - -
Domestic - - - -
Cross-border 26 (100%) 81M (100%) - -
Total 26 $81M - -

Deal Values

buy # Total
< $100M 2 $81M
TOTAL $81M
Largest Digital Cyclone Inc.
$45M (2007-01-05)

M&A Connections

Deals
Acquired from
Investor(s)
4%
1 (4%)
Strategic(s)
4%
1 (4%)

Company Summary

SECTOR

Electronics

Revenue

4,860   3% 2022
4,983   20% 2021
4,187   12% 2020
3,758   13% 2019
3,347   9% 2018
3,087   3% 2017
3,019   8% 2016
2,820   2015
(millions of USD) Show More Show Less

Employees

15,000

Established

1990

Public

NASDAQ: GRMN

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