Navman changes hands again

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

Relevant offers

Industries

Sprawling Matamata animal safari for sale Tower Insurance rebuild programme 'at full capacity' Uber increases Auckland fares to attract drivers Top executives at Christchurch firm Mercer Group quit Auckland Port row comes to a head Hamilton Airport's revenue at 'rock bottom' Contractor numbers cut as EQC home repair programme downsizes Tiwai Point profitable despite tough conditions Grants agency and publisher still at loggerheads Migration boom hits record yearly gain of 56,300

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