Garmin to acquire Swedish distributor

17 Oct 2008

In case of the proposed acquisition of its Swedish distributor Sportmanship International, Garmin has signed a letter of intent for an undisclosed sum.

Expected to be completed in December 2008, the completion of the acquisition is subject to the negotiation and execution of a definitive acquisition agreement, the completion of legal and financial due diligence and customary closing conditions.

Changing the name of Sportmanship to Garmin Sweden is expected to follow the acquisition. The company will retain its management, sales, marketing and supporting staff.

Garmin acquired its Spanish, German and French distribtutors, Electrónica Trepat, GPS Gesellschaft für Professionelle Satellitennavigation and EME Tec Sat last year.