omniture

MiTAC to Acquire Brunswick Corporation's Brunswick New Technologies Personal Navigation Device Business (Navman)

MiTAC International Corporation
2007-03-02 17:00 1636

TAIPEI, Taiwan, March 2 /Xinhua-PRNewswire/ -- MiTAC International Corporation announced that it has signed a definitive agreement with Brunswick Corporation to purchase their Brunswick New Technologies (BNT) portable navigation device business, better known as Navman.

A new complementary relationship

The acquisition of BNT's portable navigation business will further consolidate MiTAC as a leading player in the PND industry. Combining BNT's vast experience in the development of user-friendly PNDs and its established global sales and distribution networks with MiTAC's strengths in manufacturing and R&D, the acquisition creates a strategic partnership that complements the strengths of both companies. Under MiTAC, the operations of the Navman brand will be kept independent from its own Mio DigiWalker brand.

"MiTAC and Navman are quite complementary in terms of their occupation and marketing channels in different markets," said Billy Ho, MiTAC International Corporation president. "The acquisition brings together two companies with established competencies in the development of PNDs and will enhance MiTAC's ability to bring innovative and cutting-edge portable navigation solutions to the marketplace."

Transaction Details

The acquisition of BNT's portable navigation business will be formally conducted by MiTAC International Corporation's overseas subsidiary, Silver Star Development Ltd. As part of the transaction, MiTAC will also gain BNT's overseas subsidiaries including, Navman Europe Ltd., Naviart Ltd. (Hong Kong) and Navman Information Technology Ltd. (China), which encompass sales, marketing and R&D operations.

About MiTAC

MiTAC International is a global information technology company headquartered in Taiwan and publicly listed on the Taiwan Stock Exchange (TSE: 3005). Its businesses span three major areas -- end-user systems (desktop computers and digital home entertainment products), enterprise systems (workstations, servers, and storage equipment), and mobile communications (handheld GPS devices, smart phones, and mobile entertainment devices). In addition to large vertically integrated manufacturing sites in China, MiTAC also maintains extensive R&D operations in that country and Taiwan, as well as sales and marketing operations in the US, UK, Germany, Japan, and many other countries. The company is recognized by the technology press and throughout the industry for such strengths as its sophisticated supply chain management and integrated design-and-manufacturing system. The company was recently named one of Business Week magazine's Information Technology 100 top global IT firms.

News Contact:

Justine Liu

Public Relations/Investor Relations

MiTAC International Corp.

Tel: +886-2-2627-1188 *5961

Email: Justine@mic.com.tw

Source: MiTAC International Corporation
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