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Technology Stocks : Garmin GRMN

GRMN 213.95

-0.4%

3:59 PM EDT

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From: GPS Info	7/22/2017 2:25:10 PM
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Garmin Ltd. (GRMN) acquires Alphamantis Garmin Ltd. (NASDAQ: GRMN), today announced that it has acquired Alphamantis Technologies Inc., a privately held designer of aerodynamics testing and measurement technology for the cycling industry. “Alphamantis is on the leading edge of aerodynamics analysis in the cycling world, and that makes the company a perfect fit for our robust suite of bike products,” said Cliff Pemble, Garmin’s president and CEO. “Aerodynamics is another way for cyclists to measure and improve their performance – something our customers crave.” Alphamantis develops technology that allows typical cyclists to test and refine their drag coefficient in everyday riding conditions, without having to use expensive and time-consuming wind tunnel testing. The majority of associates will be retained and will continue working in Montreal, Canada. Financial terms of the acquisition will not be released. streetinsider.com

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