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Article: Garmin International Announces Agreement to Acquire UPS Aviation Technologies.
- Article from:
- PR Newswire
- Article date:
- July 24, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Garmin International Inc., a unit of Garmin Ltd. , today announced a definitive agreement to acquire UPS Aviation Technologies, Inc., a subsidiary of United Parcel Service, Inc. for $38 million in cash.
The acquisition is subject to customary closing conditions and is expected to close in the third quarter. Once consummated, UPS Aviation Technologies will change its name to Garmin AT, Inc., and will continue operations as a wholly owned subsidiary of Garmin International.
UPS Aviation Technologies, headquartered in Salem, Ore., designs and manufactures multiple lines of communications, navigation and surveillance products for general aviation and air ...