Garmin® Announces Completion of the Acquisition of its Swedish Distributor

Garmin Ltd. (NASDAQ: GRMN) announced today that it has completed the acquisition of Sportmanship International AB (“Sportmanship”), the distributor of Garmin’s consumer products in Sweden. The company is expected to be renamed Garmin Sweden AB and will retain its management, sales, marketing and supporting staff, consisting of approximately 28 people.

Dr. Min Kao, chairman and CEO of Garmin Ltd., said “We welcome the Sportmanship team into the Garmin family. Sportmanship has made Garmin the market leader in Sweden in portable navigation devices (PNDs) as well as the marine and outdoor markets. We expect the completion of this acquisition will enable us to further strengthen our position in the Nordic countries.”

Financial terms of the transaction were not released.