Navman changes hands again

Last updated 10:11 31/01/2013

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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.

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