Wednesday, January 14, 2009
Taiwanese Firm Completes Magellan Buy
Taiwanese computer and electronics manufacturer MiTAC International Corp. announced Tuesday that it has finalized its acquisition of Magellan Navigation Inc.'s Consumer Product division. Financial terms of the transaction were not disclosed. Headquartered in Santa Clara, Magellan manufactures portable navigation and global positioning devices. According to MiTAC, the privately owned Magellan will become a wholly owned MiTAC subsidiary called MiTAC Digital Corp. However, MiTAC noted, the business unit will continue to operate under the Magellan name and logo and will remain based in Santa Clara. Kevin Chuang will direct the outfit as MiTAC Digital Corp's chief executive officer.