Santa Clara, Calif. - Magellan Navigation, Inc. announced it has entered into a definitive agreement to sell the Magellan consumer products division to MiTAC International Corp. Closing of the transaction is anticipated in January of 2009. Financial terms are not disclosed.
Recognized as an industry innovator, the Magellan consumer
products division is the creator of the award-winning Magellan RoadMate and
Maestro series portable car navigation systems, and the Magellan Triton
outdoor handheld navigation devices. The company is recognized worldwide through
its Magellan brand.
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information about Mitac, please go to:www.mitac.com
Magellan Enters into Definitive Agreement to Sell the Magellan Consumer Products Division
December 16, 2008