[GeoStL] Magellan consumer products being sold

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Magellan Enters into Definitive Agreement to Sell the Magellan Consumer 
Products Division to MiTAC International Corporation 
SANTA CLARA, Calif., Dec. 15 -- Magellan Navigation, Inc. today announced it 
has entered into a definitive agreement to sell the Magellan consumer products 
division to MiTAC International Corp. Closing of the transaction is anticipated 
in January of 2009. Financial terms are not disclosed. 

Recognized as an industry innovator, the Magellan consumer products division is 
the creator of the award-winning Magellan(R) RoadMate(R) and Maestro(TM) series 
portable car navigation systems, and the Magellan Triton(R) outdoor handheld 
navigation devices. The company is recognized worldwide through its Magellan 
brand. 

About Magellan 

Magellan allows people to travel, work and play their way with leading portable 
navigation and positioning solutions across multiple consumer markets. 
Recognized as an industry innovator, the company is the creator of the 
award-winning Magellan RoadMate, and Maestro series portable car navigation 
systems, as well as the CrossoverGPS(TM) and Magellan Triton outdoor handheld 
navigation devices. Magellan is privately held and headquartered in Santa 
Clara, Calif. For more information on Magellan, visit 
http://www.magellangps.com. 

About MiTAC International Corp. 

MiTAC International is a global ITC (information technology & consumer 
electronics) company headquartered in Taiwan and publicly listed on the Taiwan 
Stock Exchange. Its business spans three major areas -- mobile communications 
(personal navigation devices, GPS smart phones and mobile Internet devices), 
enterprise systems (workstations, servers, and storage equipment) and client 
systems (personal computers and digital home entertainment products). MiTAC 
International has large vertically integrated manufacturing sites in China, as 
well as extensive R&D facilities in US, China, Taiwan and New Zealand. MiTAC 
International also has marketing operations in the U.S., West Europe, Central 
East Europe, APAC, China, Japan, Australia and rest of the world. The company 
is recognized by the industry for its innovative product design capability as 
well as its integrated design-and-delivery system. For more information about 
Mitac, please go to: http://www.mitac.com 

 

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