Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN) and Navico, parent company to the Lowrance®, Simrad® and B&G® brands, today announced that they have ended a three-year-long dispute relating to sonar and auto guidance patents. The agreement includes a broad cross-licensing of patents and other intellectual property, which will allow both companies to bring new innovations to the market faster and benefit all marine customers.
“This is an exciting time as new technology is bringing positive change to the marine market,” said Cliff Pemble, Garmin president and CEO. “This resolution allows us to focus all of our energy to bring even more innovation to our marine customers.”
“Research and development of game-changing technologies like our DownScan Imaging is the lifeblood of our business and the marine electronics industry,” said Leif Ottosson, Navico CEO. “We are very pleased with this resolution, which includes guidelines for the future cross-licensing of technologies for the benefit of both of our customers.”
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/garmin, or youtube.com/garmin. For more information on the Navico brands, visit lowrance.com, simrad-yachting.com, pro.simrad-yachting.com and bandg.com, and to find out more about the Navico Group of companies, visit navico.com.
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