Navico – manufacturer of marine electronics and parent company to the Lowrance, Simrad and B&G brands – and C-MAP – a supplier of digital navigation products to recreational and commercial marine markets – have merged, effective today.
C-MAP serves boaters worldwide, providing cartography products and services for all types of leisure boaters, from fishermen and sailing enthusiasts to powerboat owners.
The merger will accelerate the companies’ shared ambition to create the world’s biggest digital marine ecosystem and deliver the best experiences for customers around the world, Navico stated a news release issued early this morning.
Navico’s headquarters are located in Norway and the group has around 1,500 employees.
“This merger is an incredible opportunity to drive innovation in the marine industry and lead a new digital era,” said Leif Ottosson, CEO, Navico Group. “We see huge potential to bring our two teams together and accelerate growth.”
“We’re incredibly excited to join forces with Navico,” said Sean Fernback, former CEO of C-MAP and now Navico Group CTO and corporate executive member. “We now have an opportunity to create a seamless experience by developing an ecosystem that combines the best hardware, software, services and applications.”
Earlier this year, Navico acquired navigational and digital switching platform provider Yacht Defined Sweden AB, and made an investment into HOC Yachts AB, a start-up, high-tech custom boat designer, with the goal of showcasing and validating the companies' developments in marine electronics, digital switching, boat integration and connectivity.
Source: Boating Industry