Global Sourcing Service for China,Taiwan,Asia Strategic Sourcing and Procurement Sourcing Provider: MiTAC Buys Magellan's GPS Unit

From:http://www.ready-sourcing.com/sourcing-news/auto/mitac-magellan.html

MiTAC continued to snap up GPS companies, adding Magellan's consumer business to
the Taiwan company.

MiTAC continued to snap up GPS companies, adding Magellan's consumer business to
the Taiwan company.
Financial terms were not disclosed, the companies said in a brief press
release.
Magellan offers the Roadmate, Maestro and Triton lines of GPS devices. MiTAC,
meanwhile, bought the Navman GPS business from Brunswick in 2007, and merged it
with its in-house Mio GPS unit in January 2008. Since then, MiTAC's line of GPS
products has included the somewhat simplistic Mio Moov 200 and the gimmicky
Knight Rider GPS.
Magellan's products, meanwhile, have fared much better in PCMag.com tests, with
4350 and 4250, which have been full-featured, but priced on the high end of the
scale.
One of the questions that the merger engenders is whether MiTAC bought Magellan
for its name, its market share, its technology, or all three, said Max Engel, a
space and broadband analyst with Frost & Sullivan. "They are a very respected
name," he said.
It's also interesting that a GPS company was picked up as car sales decline,
Engel said; consumers are typically willing to finance a GPS unit as part of a
car loan than as an aftermarket purchase that they have to pay $100 to $200 more
out of their own pocket, he said.
With three GPS lines under MiTAC's roof, Engel said it was natural to suspect
that one or more might be consolidated. But, he added, it would also mark a
relative first for Magellan to be part of a larger GPS organization. In 2001,
for example, satellite services company Orbital Systems sold Magellan to Thales
Group for $70 million after buying the company in 1994 for about $55 million.
Thales then sold its Magellan, a joint-venturee with Hertz and the ProMark GPS
surveying line to Shah Partners, an investment group, for $170 million in July
2006.
Representatives from Magellan Navigation did not immediately respond to
requests for comment.
about MiTAC
MiTAC was established in 1982, their business is exemplified by the 3V
(Velocity, Value, Visibility) concept. MiTAC leverages advantages in speed, the
ability to add value, and market intelligence. MiTAC has made it it's objective
to be a successful business integrator, working to become a world-class
information technology multinational.  Their products include client system
business, enterpris, wireless communication and digital appliance business.
Magellan Loses Consumer GPS Unit
Despite that claim to fame, the company has decided that the GPS market is too
cluttered, and they want out. GPS Tracklog says that Magellan will sell off its
consumer side to MiTAC International, the makers of Mio.
In case you are lost, Magellan manufacturers the popular RoadMate, Maestro and
Triton lines. The company just announced the Magellan Maestro 4350 in October.
This unit was the first in the line to include OneTouch instant access.
There’s no word on the cash involved in the transaction, or more importantly,
what MiTAC plans to do with Magellan’s existing products. Either way, the deal
should be done next month. Also, expect to see some questions answered at
January’s
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