[Via Satellite 02-11-2016] Garmin has entered into an agreement to acquire substantially all of the assets of DeLorme, a company that designs and markets consumer-based satellite tracking devices with two-way communication and navigational capabilities. The completion of the acquisition, which is subject to customary conditions, is expected to occur within 30 to 60 days.
DeLorme is known for selling the inReach series of two-way satellite communication devices. These GPS-enabled devices allow users to send and receive satellite text messages or trigger an SOS for emergency help anywhere in the world using the Iridium satellite network. In addition to inReach, DeLorme has a large library of digital cartography and enterprise Geographical Information System (GIS) software, as well as traditional mapping.
Garmin plans to retain most of the associates of DeLorme and will continue operations at its existing location in Yarmouth, Maine following the completion of the acquisition. The Yarmouth facility will operate primarily as a research and development site, and will continue to produce two-way satellite communication devices and technologies.