Garmin® completes acquisition of Iiyonet, Inc.Oct 19, 2016
Provides direct access to the growing Japanese market
Public Company Information:
"The acquisition of Iiyonet will further bolster our sales and distribution efforts in a key Asian market"
SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--Garmin Ltd. (NASDAQ: GRMN) announced today that it has completed the acquisition of Iiyonet, Inc., a key distributor of Garmin’s consumer products in Japan. The company is now a subsidiary of Garmin Japan, Ltd.
“The acquisition of Iiyonet will further bolster our sales and distribution efforts in a key Asian market,” said Cliff Pemble, president and CEO of Garmin. “This acquisition will enhance our ability to support our key retailers and OEMs in Japan.”
The company will retain substantially all of its management, sales, marketing and supporting staff and will continue operations at its current headquarters and warehouse facilities located in Saitama, Japan, near Tokyo.
Terms of the acquisition were not disclosed.
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