Garmin acquired Vesper Marine in 2022, expanding its business
In January of 2022, Garmin Ltd (Garmin) announced that it has acquired Vesper Marine, a New Zealand based company which produces automatic identification systems (AIS), VHF radios and vessel monitoring solutions for the marine industry. Vesper Marine produces a number of communication products for a variety of vessels, including its Cortex system, which integrates the company’s VHF radio, smartAIS transponder and remote vessel monitoring technology into one system.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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