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Article: Garmin(R) Signs Letter of Intent to Acquire German Distributor.

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PR Newswire
Article date:
May 8, 2007
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CAYMAN ISLANDS, May 8 /PRNewswire-FirstCall/ -- Garmin Ltd. announced today that it has signed a letter of intent for the proposed acquisition of GPS Gesellschaft fur Professionelle Satellitennavigation mbH ("GPS GmbH"), the exclusive distributor of Garmin's consumer products in Germany. 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.

(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO)

"The proposed acquisition of GPS GmbH is part of our strategic initiative to strengthen Garmin's ...

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