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OSLO, Norway – Norwegian-based Navico International Ltd. has now closed the deal to acquire the marine electronics business of Brunswick New Technologies, the company reported in a statement earlier this week.
This move – which involves the addition of the MX Marine, Navman and Northstar brands to its product line-up – places Navico as “the leader in marine electronics” and reinforces its position in U.S. and Asia Pacific markets, the company said. These brands will be added to its existing marine electronics portfolio, consisting of the B&G, Eagle, Lowrance and Simrad brands.
The result is “the ability to individually target its customers’ needs with a differentiated offering spanning almost all marine industry segments, from small leisure boats through to professional vessels,” the company said.
“As a logical strategic home for these brands, Navico will apply its technological expertise and market power to realize their full potential in the market place,” said Jens Thomas Pietralla. “The strong technical and operational background gained from combining our resources will bolster Navico’s development program and create further positive synergies within the group.”
Efficient execution and high-quality deliveries will be achieved through increased scale and focus on sales and marketing, R&D, manufacturing, and logistics, according to the company.
As part of the transaction, Brunswick has entered into a supply agreement with Navico, which has worked closely with Brunswick since February to support and plan for the seamless integration of the business into Navico’s operations, including the transfer of key competence from the acquired unit to the global Navico organization. Uninterrupted operations will continue at existing locations, ensuring the availability of Navico’s products, solutions and services for its customers, the company concluded.
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