MiTAC International Corporation has confirmed the completion of its acquisition of the personal navigation device (PND) operations of Brunswick New Technologies at a purchase price of US$16 million, including Navman Europe Ltd., Naviart Ltd. (Hong Kong) and Naviart Information Technology (Shanghai).
Brunswick International aqcuired New Zealand-based Navman NZ Limited in June 2004. MiTACís current businesses encompass client systems, enterprise systems, digital home entertainment products and mobile communication products.
With the acquisition of the Navman PND operations, the sales revenue contribution of MiTACís mobile communications business to its total revenue is expected to increase gradually.
According to MiTAC, the focus of its mobile communication business unit will be on the design, manufacture and marketing of highly profitable, high-value added mobile communication products. MiTAC will continue to leverage both the Navman and the MiTAC MioDigiwalker brands by utilizing a dual-brand strategy.
Using this dual-brand strategy, MiTAC will leverage both the Navman and Mio brands and focus on expanding its presence in Europe, where the demand for PNDs is the strongest. In addition, emphasis will also be placed on Australian and New Zealand markets, Navmanís main base of operations.
Navman Europe Ltd., Naviart Ltd. (Hong-Kong) and Naviart Information Technology (Shanghai) Co. Ltd., cover a number of different functions. Navman Europe Ltd. and Naviart Ltd. (Hong-Kong) cover sales functions, while Naviart Information Technology (Shanghai) Co. Ltd. encompasses R&D as well as sales.
The company says Navmanís worldwide market share in the consumer GPS market Q3-06 was 8.7%, comparable to Mioís 8.9% during the same period.
In the past, MiTAC was one of Navmanís main OEM providers, but after the acquisition MiTAC will become Navmanís sole OEM provider.