Garmin Announces Completion of the Acquisition of Its Austrian Distributor

CAYMAN ISLANDS, July 31 -- Garmin Ltd. announced today that it has completed the acquisition of Puls Elektronik GmbH, the distributor of Garmin's consumer products in Austria. The company will be renamed Garmin Austria GmbH and will retain its management, sales, marketing and supporting staff, consisting of approximately 30 people, and will continue operations at its current headquarters located in Nestelbach/Graz, Austria.

Dr. Min Kao, chairman and CEO of Garmin Ltd., said, "We welcome the Puls Elektronik team into the Garmin family. They have been successful in making the Garmin brand the market leader in Austria and we expect the completion of this acquisition to enable us to achieve additional efficiencies and improve our ability to support key retail channels and OEMs in Austria."