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

CAYMAN ISLANDS, Aug. 3 /PRNewswire-FirstCall/ -- Garmin Ltd. announced today that it has signed a letter of intent for the proposed acquisition of Synergy S.p.A. ("Synergy") the distributor of Garmin's consumer products in Italy. 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.

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Dr. Min Kao, chairman and CEO of Garmin Ltd., said "The acquisition of Synergy will complete our strategy to strengthen Garmin's presence in the key European ...

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