Acquisition includes the International Emergency Response Coordination Center (IERCC)
SCHAFFHAUSEN, Switzerland — (BUSINESS WIRE) — January 5, 2021 — Garmin® International and Garmin Services, units of Garmin Ltd. (NASDAQ: GRMN), today announced the acquisition of substantially all the assets of GEOS Worldwide Limited and its subsidiaries. A privately held, industry leading provider of emergency monitoring and incident response services, GEOS Worldwide operates the International Emergency Response Coordination Center (IERCC), the nerve center for SOS rescue efforts triggered by Garmin’s inReach® personal satellite communicators. The IERCC’s skilled response coordinators have fielded more than 83,000 emergency incidents around the globe since 2007, including more than 5,000 SOS incidents generated by Garmin customers.
“With this acquisition, Garmin is now able to provide even more peace of mind to our inReach users,” said Brad Trenkle, vice president of Garmin’s outdoor segment. “In an emergency, every moment matters. The addition of the IERCC to the Garmin family reinforces our commitment to helping our active lifestyle customers make it home safe from their adventures.”
“GEOS has enjoyed a strong collaboration with Garmin over the years, and we look forward to continuing to work together to continue to provide best-in-class emergency response and safety services for customers around the globe,” said Peter Chlubek, GEOS executive chairman. “GEOS has been a force for good in this world, and I am very proud of our superb staff, who have helped to save over 12,000 lives in the 198 countries where we have provided our global service. This will now continue to grow and be further enhanced thanks to new synergies with Garmin.”
GEOS Worldwide’s primary operations are in Montgomery, Texas. Financial terms of the acquisition will not be released.
Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor lifestyles. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin or youtube.com/garmin.
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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 28, 2019, 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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Contact:
Krista Klaus
913-397-8200
media.relations@garmin.com