Garmin Ltd., (NASDAQ: GRMN), the global leader in satellite navigation,
today announced that one of its subsidiaries has signed an agreement to
acquire Tri-Tronics Inc., the leading designer and manufacturer of
electronic dog training equipment. The acquisition will allow the
combined company to expand its leadership position in both the tracking
and training of sporting dogs and household pets alike.
"We are delighted to have Tri-Tronics join the Garmin family. Like
Garmin, Tri-Tronics is a leading and respected brand that is committed
to designing, manufacturing, and marketing the highest quality, most
rugged, and easiest-to-use devices in the business,” said Cliff Pemble,
president and COO of Garmin. "By integrating the two companies, we
believe we can leverage our areas of expertise into products that can
greatly enhance the way that dog owners interact with their canine
companions. This acquisition should demonstrate without a doubt that
Garmin is fully committed to developing innovative products for the
canine market.”
"For more than 40 years, Tri-Tronics has been the leading brand of
electronic dog training equipment. Combined with Garmin, we can extend
our leadership well into the future,” said Mike Romano, vice president
and general manager of Tri-Tronics. "Our combined team will work
together to develop cutting-edge products that will help dog owners more
effectively train their dogs and keep them safer. Together, we can bring
these products to market quicker, with more features, and at a
competitive price.”
Innovation has made both Garmin and Tri-Tronics the choice of elite dog
trainers and breeders as well as amateur hunters and pet owners. Garmin
revolutionized the sporting dog market when it entered the market in
2007 with Astro®, its highly successful GPS dog tracking
system, which pinpoints the exact location of a dog for hunters. Earlier
this year, Garmin introduced the cellular-based GTU 10 GPS locator and
web-based Garmin Tracker™ service for computers and smartphones.
For more than 40 years, Tri-Tronics has pioneered many innovative and
patented features on e-collars and bark limiters, including innovations
in wireless signal transmission, variable stimulation, battery
technology, and numerous features that ensure dogs are safe when trained
with an e-collar. This consistent leadership in the industry has made
Tri-Tronics one of the most trusted names in dog training.
Tri-Tronics will operate as a wholly owned subsidiary of Garmin Ltd. Its
existing management team will be retained and will continue operations
at its headquarters in Tucson, Arizona. Financial terms of the agreement
will not be released. The deal is expected to close by June 30, 2011.
About Garmin Ltd.
The global leader in satellite navigation, Garmin Ltd. and its
subsidiaries have designed, manufactured, marketed and sold navigation,
communication and information devices and applications since 1989 – most
of which are enabled by GPS technology. Garmin’s products serve
automotive, mobile, wireless, outdoor recreation, marine, aviation, and
OEM applications. Garmin Ltd. is incorporated in Switzerland, and its
principal subsidiaries are located in the United States, Taiwan and the
United Kingdom. For more information, visit Garmin's virtual pressroom
at www.Garmin.com/newsroom
or contact the Media Relations department at 913-397-8200. Garmin and
Astro are registered trademarks and Garmin Tracker is a trademark of
Garmin Ltd. or its subsidiaries.
All other brands, product names, company names, trademarks and service
marks are the properties of their respective owners. All rights reserved.
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd.
and its business. All statements regarding the company’s future product
introductions are forward-looking statements. Such statements are based
on management's current expectations. The forward-looking events and
circumstances discussed in this release may not occur and actual results
could differ materially as a result of known and unknown risk factors
and uncertainties affecting Garmin, including, but not limited to, the
risk factors listed in the Annual Report on Form 10-K for the year ended
December 25, 2010, filed by Garmin with the Securities and Exchange
Commission (Commission file number 0-31983). A copy of such Form 10-K is
available at www.Garmin.com/aboutGarmin/invRelations/finReports.html.
No forward-looking statement can be guaranteed. Forward-looking
statements speak only as of the date on which they are made and
Greyhound undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
