Garmin and Navigon have announced today that they have signed an agreement that will have Navigon become a subsidiary of Garmin. With Garmin’s experience in the automotive business and Naivgon being one of the top-selling navigation applications in the Android Market, the two companies are hoping their combined efforts will help ensure long-term revenue for the future as well — bring some new innovations to the market for consumers as Egon Minar, CEO of Navigon, stated:
“We look forward to sharing expertise, technologies, and relationships between Navigon and Garmin in order to serve more customers, expand product offerings, and lead the market in hardware and software innovation,”
Sounds good to us. The deal for the most part is closed at this point but both companies are now waiting for regulatory approval, which, is expected to arrive soon. For more details you’ll find the press release right after the break.