Santa Clara, Calif. (December 15, 2008) Magellan Navigation, Inc. announced it has entered into a definitive agreement to sell the Magellan consumer products division to MiTAC International Corp. Closing of the transaction is anticipated in January of 2009. Financial terms are not disclosed.
The Magellan consumer products division is the creator of the Magellan RoadMate and Maestro series portable car navigation systems, and the Magellan Triton outdoor handheld navigation devices. The company is recognized worldwide through its Magellan brand.