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MiTAC International Corporation Completes Purchase of Magellan Consumer Product Division

Posted on: Tuesday, 13 January 2009, 18:00 CST

TAIPEI, Taiwan and SANTA CLARA, Calif., Jan. 13 /PRNewswire/ -- MiTAC International Corporation today announced the completion of its purchase of the Consumer Product Division of Magellan Navigation, Inc. Magellan will become a wholly-owned subsidiary of MiTAC International Corporation. The new entity will be called MiTAC Digital Corporation and Magellan will continue to operate under the Magellan name and logo. The new division will be led by recently appointed CEO of MiTAC Digital Corporation Kevin Chuang and will remain headquartered in Santa Clara, Calif.

"I am very pleased to be part of the new MiTAC Digital Corporation. The ability to leverage MiTAC International Corporation strength in engineering and manufacturing and the Magellan brand and channels of distribution puts MiTAC Digital Corporation in an excellent position to strengthen and grow the business in North America," said Kevin Chuang, CEO of MiTAC Digital Corporation.

Magellan's brand strength centers on its consumer brand preference, channels of distribution in the handheld outdoor and car navigation markets in North America. Its award-winning product lines include the RoadMate(R) and Maestro(TM) series of portable car navigation systems and the Triton(R) outdoor handheld navigation devices.

"With this purchase, MiTAC International enhances its mobile navigation business and positions our company for growth in North America," said Billy Ho, President of MiTAC International Corporation.

MiTAC International, a leading worldwide maker of wireless communications products including portable GPS navigation devices, will operate both the Mio and Magellan brands independently in North America, but the brands will share technological expertise. Mio Technology is a wholly-owned subsidiary of MiTAC.

About MiTAC

MiTAC International is a global information technology company headquartered in Taiwan and publicly listed on the Taiwan Stock Exchange. Founded in the 1990's MiTAC International has based its business model on Innovation, Design, Manufacture and Service (IDMS), thereby providing our clients with a totally integrated solution. This solution is managed by the following Business Units (BUs): Client System, Enterprise, Mobile Communication, and Tyan. The core competence of MiTAC International centers on in-house software development, innovative integrated hardware technology, ID design ability, vertical-manufacture ability and brand management ability. Mitac's Mobile Communications Business Unit is focused on developing integrated handheld products, including GPS, GPS Smartphones and Mobile Internet Devices, with the emphasis on moving towards High Profit, Value-Added Design, Manufacturer and Sales. MiTAC Web site: http://www.mitac.com.

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. The company is a wholly-owned subsidiary of MiTAC International Corporation and continues to operate under the Magellan name and logo. For more information on Magellan, visit http://www.magellangps.com.

(C) 2009 MiTAC Digital Corp. All rights reserved. Magellan, Maestro, Magellan RoadMate, CrossoverGPS, and Triton are trademarks of MiTAC Digital Corp.

Safe Harbor Statement

This announcement and supporting materials may contain forward-looking statements which address our expected future business and financial performance. These forward looking statements are based on current expectations, estimates, forecasts and projections of future Company or industry performance based on management's judgment, beliefs, current trends and market conditions, and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward- looking statements.

SOURCE Magellan

Source: PR Newswire

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