GARMIN Acquires VESPER Marine
Posted: Tue Mar 01, 2022 8:23 am
The GARMIN corporation has acquired the marine electronics manufacturer VESPER Marine, according to a press release from January 2022.
VESPER Marine was a New Zealand privately-held company that was an innovator in VHF Marine Band radios, AIS devices, and vessel monitoring equipment.
The marine electronic and electrical supply business has lately seen many smaller and independent suppliers taken over by larger corporations. For example, Lowrance was acquired by NAVICO, and then NAVICO was acquired by Brunswick. Brunswick also acquired a slew of marine electrical and electronic suppliers when in 2018 they bought Ancor, BEP, Blue Sea Systems, Czone, Del City, Lenco Marine, Marinco, Mastervolt, Park Power, Progressive Industries, and ProMariner from Power Products, owned by GenStar Capital.
I hope that the GARMIN acquisition of VESPER works out better than the Brunswick acquisition of another New Zealand small marine electronics manufacturer, NAVMAN. That corporate takeover ended with NAVMAN being shut down, and all the NAVMAN innovative marine products disappearing.
It seems the marine business world is heading toward a few giant conglomerates owning all the formerly independent brands.
VESPER Marine was a New Zealand privately-held company that was an innovator in VHF Marine Band radios, AIS devices, and vessel monitoring equipment.
The marine electronic and electrical supply business has lately seen many smaller and independent suppliers taken over by larger corporations. For example, Lowrance was acquired by NAVICO, and then NAVICO was acquired by Brunswick. Brunswick also acquired a slew of marine electrical and electronic suppliers when in 2018 they bought Ancor, BEP, Blue Sea Systems, Czone, Del City, Lenco Marine, Marinco, Mastervolt, Park Power, Progressive Industries, and ProMariner from Power Products, owned by GenStar Capital.
I hope that the GARMIN acquisition of VESPER works out better than the Brunswick acquisition of another New Zealand small marine electronics manufacturer, NAVMAN. That corporate takeover ended with NAVMAN being shut down, and all the NAVMAN innovative marine products disappearing.
It seems the marine business world is heading toward a few giant conglomerates owning all the formerly independent brands.