Nothing Left But The Last Of The Paperwork

Garmin International announced Friday that it has completed the acquisition of UPS Aviation Technologies, Inc., a subsidiary of United Parcel Service, for $38 million in cash. The acquired company will immediately change its name to Garmin AT, Inc. and will continue operations as a wholly owned subsidiary of Garmin International, Inc.

Garmin AT, Inc. is located in Salem (OR) and employs approximately 150 people skilled in the design, manufacturing, marketing, and support of communication, navigation, and surveillance products for general aviation and air transport customers. The company is known for its leadership in the development of Automatic Dependent Surveillance Broadcast (ADS-B) technology and has participated in the development of innovative equipment to enhance flight safety as part of the Federal Aviation Administration (FAA) Safe Flight 21 and Alaskan Capstone projects.

In addition, Garmin AT's CNX80 GPS navigation receiver recently became the first fully-integrated panel-mounted product certified by the FAA for primary means navigation using the FAA's Wide Area Augmentation System, or WAAS. The company has a long-standing positive reputation with the customers it has served over the years, starting with LORAN technology of the 1980's and moving into panel mounted GPS, multi-function display, and other aviation navigation and communication technologies of today.

"We are pleased to conclude the acquisition of UPS Aviation Technologies," said Dr. Min Kao, Garmin International Inc.'s president. "As a combined organization, we look forward to achieving even greater levels of product innovation while providing a higher level of service to all of our aviation customers."

"Garmin International and Garmin AT offer highly complementary product lines," said John Macnab, formerly general manager of UPS Aviation Technologies and now general manager of Garmin AT. "Customers can now select from a best-of-breed line of products backed by the strength of the Garmin brand with the assurance of industry leading support into the future. Many customers and dealers have wondered what direction Garmin AT will take after the acquisition," added Macnab. "We want to reassure them that we will continue to honor product warranties and we will continue to offer the service and support that our customers have come to expect. In addition, we look forward to offering new products that leverage the technology, creativity, and resources of the combined organization."

FMI: www.garmin.com