News

Thales Navigation Taken Over by Investment Group

July 20, 2006

An investment group led bij Shah Capital Partners is about to acquire Thales navigation, a division of the electronics group Thales. Thales Navigation is leader in consumer, survey, GIS and OEM GPS navigation and positioning markets. The transaction should close in the third quarter of 2006. The new company will be named Magellan Navigation, Inc., headquartered in San Dimas (CA, USA).

Thales Navigation created ProMark, the best selling single frequency GPS survey product line on the market, but it also developed the Magellan RoadMate portable car navigation systems and Magellan eXplorist outdoor handheld navigation devices. Over the past three year, Thales Navigation experienced 200% consumer revenue growth.

Ajah Shah, managing partner of Shah Capital Partners, has high expectations working in the growing navigation market with the company and its strong position on the consumer and commercial markets. Thales Navigation aims to increase leadership in consumer, survey, GIS and OEM markets worldwide.

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