Navman changes hands again

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

Relevant offers

Industries

Ask the Expert: Getting past the steeper stairs of growth KiwiRail posts another loss and remains reliant on Government support NZI offers insurance excess waiver to top quarter of trucking firms Booksellers NZ wary as Australia explains limit to 'Amazon tax' NZ's richest businessmen lose millions in sharemarket turmoil Mighty River Power to pay special dividend, operating profit slips to $482m Falling petrol prices mask rising margins After Kirkcaldie & Stains move, Brierley moves on Smiths City NZ Post boosted by Kiwibank Countdown result outshines Australian owner Woolworths

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