Navico International Ltd.
agreed to acquire the marine electronics business of Brunswick New Technologies
(BNT), a unit of Brunswick Corporation (BC)
. Subject to regulatory approvals, this transaction, which is expected to close during March 2007, will create the world's largest supplier of marine electronics for recreational boats.
Included in the agreement are the three brands MX Marine, Navman marine and Northstar. The combined businesses had revenues of USD 50 million in 2006 with primary operating facilities in New Zealand, the United States, Australia, and the United Kingdom.
MX Marine has a 30-year heritage in providing high precision navigation systems for commercial and government vessels.
Navman marine offers a portfolio of marine electronics products and GPS solutions, designed and manufactured in New Zealand, and has established a leading market position in Australasia as well as a strong presence in Europe over the last 15 years.
Northstar has been a leader in the US marine electronics industry for over 35 years, and now offers a range of solutions that combine navigation, radar, and entertainment functionality. Boat builders and boat owners alike value Northstar's systems.
As part of the transaction, Brunswick will enter into a supply agreement with Navico, which secures a close partnership with all Navico brands to supply leading-edge technology to the Brunswick Boat Group.