Garmin Acquires Vesper Marine For Undisclosed Terms - Quick Facts

(RTTNews) - Garmin Ltd. (GRMN) announced Monday that it has acquired Vesper Marine, a privately-held provider of AIS, VHF and vessel monitoring solutions for the marine industry. Financial terms of the acquisition will not be released.

This acquisition is expected to bolster Garmin's industry-leading lineup of marine products and technology designed to provide peace of mind and enhanced situational awareness for boaters.

With almost 15 years of experience, Auckland, New Zealand-based Vesper has developed a suite of communication products and solutions for power, sail and workboats, including the award-winning Cortex system. The company also offers mobile apps to monitor, view and manage a Cortex system or smartAIS transponder for iOS and Android devices.

Vesper Marine will join Garmin's existing team and facility located in Auckland.