updated 10:05 am EST, Mon December 15, 2008
Magellan sells GPS arm
Personal GPS device maker Magellan Navigation announced on Monday that it will sell its consumer products division to MiTAC International, according to a report today. MiTAC is Magellan's competitor, as it makes its own GPS devices, including the Mio Knight Rider GPS. The deal is expected to close sometime in January, with more details as part of a more official, final announcement expected to be released before then, most likely at CES.
Magellan makes the Magellan RoadMate, Maestro and Triton series of GPS devices; the company is considered one of the largest GPS makers, although it has recently fallen sharply in market share, from 45 percent to 13. Competitors Garmin and TomTom are believed to lead the majority of the market.