Garmin® acquires Alphamantis™
July 20 2017 - 10:34AM
Business Wire
Developer of cycling aerodynamics testing
and measurement
Garmin Ltd. (NASDAQ: GRMN), today announced that it has
acquired Alphamantis Technologies Inc., a privately held
designer of aerodynamics testing and measurement technology for the
cycling industry.
“Alphamantis is on the leading edge of aerodynamics analysis in
the cycling world, and that makes the company a perfect fit for our
robust suite of bike products,” said Cliff Pemble, Garmin’s
president and CEO. “Aerodynamics is another way for cyclists to
measure and improve their performance – something our customers
crave.”
Alphamantis develops technology that allows typical cyclists to
test and refine their drag coefficient in everyday riding
conditions, without having to use expensive and time-consuming wind
tunnel testing.
The majority of associates will be retained and will continue
working in Montreal, Canada. Financial terms of the acquisition
will not be released.
About Garmin
Garmin International Inc. is a subsidiary of Garmin Ltd.
(Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its
principal subsidiaries are located in the United States, Taiwan and
the United Kingdom. Garmin is a registered trademark of Garmin
Ltd.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding
Garmin Ltd. and its business. Such statements are based on
management’s current expectations. The forward-looking events and
circumstances discussed in this release may not occur and actual
results could differ materially as a result of known and unknown
risk factors and uncertainties affecting Garmin, including, but not
limited to, the risk factors listed in the Annual Report on Form
10-K for the year ended December 31, 2016, filed by Garmin with the
Securities and Exchange Commission (Commission file number
0-31983). A copy of such Form 10-K is available at
http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No
forward-looking statement can be guaranteed. Forward-looking
statements speak only as of the date on which they are made and
Garmin undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170720005821/en/
Garmin International Inc.Ted Gartner,
913-397-8200media.relations@garmin.com
Garmin (NASDAQ:GRMN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Garmin (NASDAQ:GRMN)
Historical Stock Chart
From Sep 2023 to Sep 2024