Garmin® Completes Acquisition of PulsedLight®, Developer of Optical Distance Measurement Technology

Category:

Wednesday, January 13, 2016 6:00 am CST

Dateline:

SCHAFFHAUSEN, Switzerland & BEND, Ore.

Public Company Information:

NASDAQ:
GRMN
KYG372601099
"Optical distance measurement technology fits in nicely with Garmin’s core competencies of location and positioning"

SCHAFFHAUSEN, Switzerland & BEND, Ore.--(BUSINESS WIRE)--Garmin Ltd. (NASDAQ: GRMN) today announced that its subsidiary, Garmin International, Inc., has completed its acquisition of PulsedLight, Inc., a privately-held designer of optical distance measurement technology located in Bend, Oregon.

The company makes sensor boards that are highly accurate, smaller, and more lightweight, compared to most other optical distance measurement devices. PulsedLight developed and owns the intellectual property that enables this technology.

“Optical distance measurement technology fits in nicely with Garmin’s core competencies of location and positioning,” said Cliff Pemble, Garmin president and CEO. “We are delighted to add PulsedLight and their capabilities to the Garmin portfolio.”

“We are excited to have the support of a technology leader like Garmin. They are able to provide the resources and manufacturing expertise to integrate our technology into incredibly useful new devices that serve a multitude of markets,” said Dennis Corey, president and co-founder of PulsedLight. “We look forward to an exciting future under the Garmin umbrella.”

The PulsedLight office and its design associates will be retained by Garmin International. Financial terms of the acquisition will not be released.

For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, or youtube.com/garmin.

About Garmin Ltd.

Garmin Ltd. is incorporated in Schaffhausen, Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd or its subsidiaries.

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 27, 2014, 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.

Contact:

Garmin International Inc.
Ted Gartner, 913-397-8200
media.relations@garmin.com

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