Magellan GPS For Sale: Shah Capital Offers $170 Million
The US investment fund Shah Capital has made an offer to buy the GPS navigation equipment business of Thales for $170 million. Of that, the first $110 million would be paid immediately and the rest would be paid over five years.
Thales' GPS business uses the brand name Magellan. Shah Capital has already bought part of Thales Electronic Solutions unit, which makes electronic cards.
Wow, first Lowrance and now Magellan bought up. Magellan once owned almost the entire automobile navigation market, and now they are getting eclipsed by others, maybe if the deal goes through the new emphasis will bring about a more competitive company.
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Posted by Scott Martin at May 28, 2006 3:45 PM