(Photo courtesy of PulsedLight.com)
Garmin Ltd. (NASDAQ: GRMN) today announced that its subsidiary, Garmin International, Inc.,has completed its acquisition of PulsedLight, Inc., a privately-held designer of optical distance measurement technology located in Bend, Oregon.
The company makes sensor boards that are highly accurate, smaller, and more lightweight, compared to most other optical distance measurement devices. PulsedLight developed and owns the intellectual property that enables this technology.
“Optical distance measurement technology fits in nicely with Garmin’s core competencies of location and positioning,” said Cliff Pemble, Garmin’s president and CEO. “We are delighted to add PulsedLight and their capabilities to the Garmin portfolio.”
“We are excited to have the support of a technology leader like Garmin. They are able to provide the resources and manufacturing expertise to integrate our technology into incredibly useful new devices that serve a multitude of markets,” said Dennis Corey, president and co-founder of PulsedLight. “We look forward to an exciting future under the Garmin umbrella.”
The PulsedLight office and its design associates will be retained by Garmin International. Financial terms of the acquisition will not be released.
For more than a quarter century, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation.
About Garmin Ltd.
Garmin Ltd. is incorporated in Schaffhausen, Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd or its subsidiaries.
