It's official: Garmin now owns Navigon. What this means for Australians is unclear, as Garmin Australia has not released a statement about the transaction, while Navigon is playing its card to close its chest for now.
When asked by CNET Australia about the implications for the Australian GPS market, where Garmin is one of the big three and Navigon sits outside that, a representative from Navigon based in America said:
It's too early to discuss specific plans for the integration of the brands locally. Now that the closing is complete, we are in the process of evaluating the presentation of our respective brands in light of our goal to better serve our customers. Navigon has new products that have been in development, and we are excited to introduce these products jointly at IFA on September 1, 2011. We will keep you in the loop.
Garmin announced that it had signed an agreement to purchase Navigon back in mid-June and yesterday it announced that the acquisition had been completed for an undisclosed amount.
In absorbing Navigon, Garmin stated that it was "also acquiring one of the top-selling navigation applications for the iPhone and Android platforms". This is important because the portable navigation devices have been losing ground to smartphone navigation apps, a market that Garmin has not played a large role in until now. Garmin will also be getting Navigon's market share in the European portable navigation device market and OEM automotive navigation technologies.
Navigon board member Egon Minar states, "We are excited to be a part of Garmin and we look forward to turning our efforts toward integration and the opportunities ahead. Navigon has an innovative new product line-up that we're excited to bring to market in time for the holiday 2011 season and beyond."