Navico has entered into a principle agreement to acquire the Consilium radar business and expand its market reach with a strategic sales & distribution agreement

Egersund, Norway – Navico Holding AS, parent company to the Simrad brand, and Consilium AB today announced that Navico has entered into a principle agreement with Consilium to acquire Consilium’s radar business (“Radar business”).

As part of the intended transaction, Navico and Consilium will enter into a sales and distribution agreement, further strengthening the long-standing business relationship between the two companies. Navico intends to take over all operations of the Radar business in Italy, including research and development, product management, and manufacturing. At the same time, Consilium will continue to sell and service the Consilium Selux radar line and will also begin to distribute Navico’s complete portfolio of Simrad Professional products throughout its global sales and distribution network.

Navico’s rationale for the acquisition and distribution agreement is to continue production of the current Ship Borne Radar product lines and expand it into new areas in the Professional market, while at the same time, increasing Navico’s market reach through a well-established global sales and distribution network and strong customer base. The acquisition marks the beginning of a new and increased focus on the Professional market from Navico by rapidly acquiring best-in-class radar competencies and complementing its strong portfolio of Professional products. The new distribution agreement will allow Navico to expand into new areas in Professional.

Leif Ottosson, President & CEO of Navico Holding AS said:Navico has had a terrific momentum in the recreational market in the past years and has also experienced strong growth in the Professional marine electronics market. We see the Professional market as a strategic priority for our growth ambitions. With the intended acquisition of Consilium’s Radar business and the sales and distribution agreement, we will obtain a very strong proven technology and product portfolio to drive our continued expansion and success within this sector.

“Consilium is a well-respected and innovative company. Its Radar business is at the forefront of modern professional marine radar technology, due to years of accumulated experience. Its sales and distribution network is best-in-class. Combined with the scale and excellence of the Navico business platform, and building on its renowned culture of innovation and strong focus on customer care, Navico is looking forward to expanding its professional product portfolio and bringing it to an even larger group of customers.”

As part of this acquisition, Navico will add a highly talented team of professional radar experts from design to manufacturing and sales, to its core of staff. The Consilium research and manufacturing facilities in Italy (with over 50 years of Radar experience) will become part of Navico.

Ove Hansson, President & CEO of Consilium AB said: “Building on the successful partnership between Consilium and Navico, this intended cooperation brings together the expertise of 50 years of Consilium radar manufacture and design, with 65 years of Simrad marine electronics know-how. We are delighted that Navico and Consilium will continue to work together and look forward to expanding the range of products that Consilium brings to our customers. We anticipate great success over the coming months and years for both parties.”

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8th Nov 2013