Magellan Enters into Definitive Agreement to Sell the Magellan Consumer Products Division to MiTAC International Corporation
Santa Clara, Calif. - Magellan Navigation, Inc. today announced it has entered into a definitive agreement to sell the Magellan consumer products division to MiTAC International Corp. Closing of the transaction is anticipated in January of 2009. Financial terms are not disclosed.
Recognized as an industry innovator, the Magellan consumer products division is the creator of the award-winning Magellan® RoadMate® and Maestro™ series portable car navigation systems, and the Magellan Triton® outdoor handheld navigation devices. The company is recognized worldwide through its Magellan brand.
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