Navman changes hands again

RICHARD MEADOWS
Last updated 10:11 31/01/2013

Relevant offers

Industries

Demand for builders heats up Heart of the City paid $800,000 in contractor fees Orion Health share fall on lower cash flows Tourism Radio NZ seeks to crowdfund $350K Resort plans for two Auckland islands Prime News redundancies confirmed Picton firm N-Viro supplies parts for floating superstructure Wynyard Group confirms it undershot revenue target Chinese tourists flock to NZ Migration boom tops 50,000 for first time

Former Kiwi tech firm Navman Wireless has been sold to a Fortune 250 company for an undisclosed sum.

Danaher Corporation has added the world-leader in GPS-based vehicle products and services to its portfolio of premier science and technology brands.

Navman, which uses its technology to monitors more than 175,000 vehicles owned by over 14,000 organisations, will remain a standalone company.

The company's president TJ Chung said in a statement that Danaher had the resources, global footprint and commitment to support the growth of the business.

Navman was founded in New Zealand in 1987, and was sold to United States marine company Brunswick Group for $108.5 million in 2004.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content