According to German daily newspaper Financial Times Deutschland, Garmin has entered into exclusive talks to buy German navigation software supplier Navigon. The price is estimated around €50 million, wrote the newpaper according to a source involved with the deal. The sale could happen in June.
Navigon is currently owned at 90 percent by private equity firm General Atlantic. The firm took over the company in May 2008, increasing its stake from 25 percent to 90 percent.