Garmin is in talks to buy Navigon, which sells GPS apps for smartphones and as well as portable navigation devices (PNDs) in Europe. Garmin may pay about 50 million euros ($72 million) for the German GPS maker, said Reuters citing a German Daily, the Financial Times Deutschland.
Garmin is trying to reduce its reliance on PNDs, as more consumers use their smartphones for navigation. Garmin has been emphasizing its outdoor fitness, marine and aviation navigation products, as the PND category contracts.
The “modest” price for Navigon reflects the changes in the PND market. –Lynn Shannon
Source: Reuters
