MiTAC, the parent company that makes the low-end Mio brand GPS units, has acquired Magellan's consumer GPS division. The press release doesn't specify what will become of Magellan, it's employees, or products, saying only that the sale will complete in January 2009.
Magellan has struggled over the past few years, changing owners several times (Shah Capital Partners, most recently). Magellan once dominated the GPS market, and was considered one of the most innovative companies around. Back when Orbital Sciences owned it, ground-breaking products like the Pathmaster and 750NAV set new standards in GPS navigation, and Magellan enjoyed almost 90% market share.
Good. Poor management got them what they deserved. It's too bad, though, because the product line is just now turning the corner.
I was less impressed with the product line than Hansel. I thought the 4250 (last Magellan I used) was so poorly executed compared to the overall slickness of what's coming out from Garmin, Navigon, Tom Tom and a few others.
Hopefully this saves the Magellan name. It's rare that an investment company can successfully come in and change the fortunes of a company. MiTac knows the electronics business and has the R&D and manufacturing background to keep the Magellan brand alive. I like Magellan's products and the last thing we need are more people laid off. I wish their new ownership and current employees the best.
I feel like MiTac Understands what they are doing. They are not going to scrap the Magellan name. They are simply going to scrap the MIO name and use the Well known Magellan name. For a new line of products. I do how Magellan the best. they have been serving us with top quality products since the beginning of GPS.
My last gps was a Magellan then I bought a Garman nuvi 760 because it had good reviews. The thing I like about Magellan gps's is they have options were garman has a nice clean looking map but vary little options
More information on this acquisition is appearing around the net. It appears that Mitac will operate Magellan as its own entity. I think it's a good fit and will be good for Magellan. It's rumored that Mitack had a hand in building the software for the 4350 and 4370. GEO, if you think the old Magellan's had more options than the Garmin Nuvis, check out Magellan's 43XX series, I think you will be pleasantly surprised.
Wow...if you thing Magellan was bad before just wait! I have a Mio GPS and it is a piece of crap. The routing engine is horrendous, it's full of bugs and Tech Support was non-existent.
I have doubts about this sale. The Magellan name is still well known in the U.S., but the reality is that's it's a dying product and name. Mitac has had some good products, like the Mio 320,520, and 720, and they could be modified into very good gps's, but only if you modified the user interface with help from the big gps websites/forums. Mio has since abandoned that line, and customer support from Mio has never been any good in the US. I don't see that improving in the future.
Frankly, I see the world of automotive gps as TomTom, Garmin, and everybody else. And the 'everybody else' market is probably not profitable enough to sustain any companies that provide after-sales customer support.
I have a 760 Roadmate. I suppose the takeover means no more DVD map-and-software updates from Bangladesh. I also suppose I'll cave in and get a Garmin.
I like the Roadmate. It's a big clunky 2003 box but I have never had any trouble with it at all.