Early last year, MiTac International, the mother company of Mio Technology, bought navigational hardware maker Navman from Brunswick for a relatively small amount. After paying only 16 million US Dollars, Navman became part of the Taiwanese company. Both PND manufacturers continued to exist as two separate brands in 2007; but now, one year later, they have merged into one new brand after all, named MOVE.Merger
The merger of Mio Technology and Navman is now official. Primarily, this move means that the top three Satellite Navigation manufacturers differentiate themselves even further from the rest of the competition. TomTom, Garmin and now the new MOVE are a triumvirate of players which holds steady ground on the continents of North America, Europe, Australia and Asia. The competing brands have nowhere near that coverage to market their products.Strength
In developing MOVE devices, the new manufacturer intends to use all the strengths of both the former companies, so the MOVE PND’s will be based on Mio’s hardware developments, while the software will be based on Navman technology. This effectively means that Mio is saying goodbye to their iGo software, which does hold a loyal and enthusiastic customer base.“With the merger of the Mio and Navman brands, two complementary organizations have been brought together with a shared passion for delivering consumers the best navigation experience,” said Samuel Wang, president, Mio Technology Corporation. “Mio Technology brings core competencies in hardware to the table, while Navman brings expertise in software and content, creating a new brand that is better able to create unique, innovative products and services.
2008 will be an exciting year for this freshly-merged company, with innovative new products, a considerably larger work force and extended distribution channels. Both companies are already recognised as important players on the GPS market, with competitive, feature-rich products , and the merged company has the potential to be a true market leader."
Tele Atlas was the digital map supplier for both Mio and Navman, and this should continue for MOVE devices. A while ago, mother company MiTac had talks with both TomTom and Tele Atlas about the continuation of the collaboration, after the map supplier is taken over by TomTom.
This merger does mean a lot more than just another new brand on the PND market. The new company has a lot more funds, possesses twice the amount of technical know-how than before and its network of sales offices becomes a lot larger. This means MOVE will weigh-in much heavier in the ever-continuing battle for the navigational consumer. The merger will probably also lead to some reorganisations, but at the present time, amidst the euphoria of this important milestone, nothing has been announced.
