Watch for 'Garmin AT,' Coming This Fall
Garmin International Inc. dropped 'the bomb'
late Thursday: they have a definitive agreement to acquire UPS
Aviation Technologies, Inc. for $38 million in cash.
The acquisition is subject to customary closing conditions and
is expected to close in the third quarter. Once consummated, UPS
Aviation Technologies will change its name to Garmin AT, Inc., and
will continue operations as a wholly owned subsidiary of Garmin
International.
UPS Aviation Technologies, headquartered in Salem (OR), designs
and manufactures multiple lines of communications, navigation and
surveillance products for general aviation and air transport
customers. The company employs about 150 people.
UPS Aviation Technologies is known for its innovation in the
development of Automatic Dependent Surveillance Broadcast (ADS-B)
technology, leading the industry in the application of that
technology to enhance flight safety. It currently is participating
in the Federal Aviation Administration demonstration programs with
ADS-B, including the Safe Flight 21 and Alaskan Capstone
programs.
In addition, UPS Aviation Technologies' CNX80 GPS navigation
receiver recently became the first integrated panel-mounted product
certified by the FAA for primary navigation using the FAA's Wide
Area Augmentation System, or WAAS. UPS Aviation Technologies is
widely recognized throughout the aviation community for its LORAN
technology as well as its panel-mounted Global Positioning Systems,
multi-function display and other aviation navigation and
communication technologies.
"We are pleased with the agreement to acquire
UPS Aviation Technologies," said Dr. Min Kao, president of Garmin
International. "The company's strong product line, ADS-B
technology, an energized team and a loyal customer base will
provide our combined organization with a stronger basis for serving
both OEM and retrofit customers with state-of-the-art avionics that
enhance the safety, productivity and enjoyment of flying."
"Garmin is uniquely positioned to accelerate the marketing and
acceptance of ADS-B and other recent technology advances in general
aviation," said Tom Weidemeyer, president of UPS Airlines. "This
announcement recognizes the hard work and dedication of all
employees at UPS Aviation Technologies. Garmin is purchasing a
talented workforce that has proven its ability to bring new
products to market. Our decision to sell is based on the fact that
our airline has matured and ongoing development and marketing of
aviation technology is not part of the long-term strategic
direction of UPS."