Garmin Ltd. (NASDAQ: GRMN), today announced that it has
acquired Alphamantis Technologies Inc., a privately held designer of
aerodynamics testing and measurement technology for the cycling industry.
“Alphamantis is on the leading edge of aerodynamics analysis in the
cycling world, and that makes the company a perfect fit for our robust
suite of bike products,” said Cliff Pemble, Garmin’s president and CEO.
“Aerodynamics is another way for cyclists to measure and improve their
performance – something our customers crave.”
Alphamantis develops technology that allows typical cyclists to test and
refine their drag coefficient in everyday riding conditions, without
having to use expensive and time-consuming wind tunnel testing.
The majority of associates will be retained and will continue working in
Montreal, Canada. Financial terms of the acquisition will not be
Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN).
Garmin Ltd. is incorporated in Switzerland, and its principal
subsidiaries are located in the United States, Taiwan and the United
Kingdom. Garmin is a registered trademark of Garmin Ltd.
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 31, 2016, 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.
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