Hot on the heels of the company’s share listing transfer from the Nasdaq National Market to the New York Stock Exchange (“NYSE”), Garmin has expanded its portfolio with the acquisition of Vesper Marine, a privately-held provider of AIS, VHF and vessel monitoring solutions for the marine industry.
This acquisition is expected to bolster Garmin’s industry-leading line-up of marine products and technology designed to provide peace of mind and enhanced situational awareness for boaters.
With almost 15 years of experience, Vesper has developed a suite of communication products and solutions for power, sail and workboats, including the award-winning Cortex system. Cortex combines a state-of-the-art VHF radio with Vesper’s unique smartAIS transponder and remote vessel monitoring technology. Vesper’s smartAIS transponders incorporate built-in alarms to alert mariners of potential collisions, dragging anchors and man overboard situations. The company also offers mobile apps to monitor, view and manage a Cortex system or smartAIS transponder for iOS and Android devices.
“Vesper has pioneered a number of innovations in the marine communications space, with recognition across the industry for its emphasis on user-friendly and intuitive interfaces that make it easier to communicate on the water,” said Jarrod Seymour, Garmin vice president, marine segment leader. “Together with the Vesper team, we look forward to providing an unmatched portfolio of integrated marine communications products and services to our customers.”
“We are excited to have the support from a marine technology leader like Garmin,” said Carl Omundsen, Vesper Marine co-founder. “This combination will allow Vesper to expand its capabilities and integration into the marine communication market to make an even greater impact in the boating industry.”
Vesper Marine is headquartered in Auckland, New Zealand and will join Garmin’s existing team and facility located in Auckland. Financial terms of the acquisition will not be released.