Garmin acquires Lumishore, a leader in marine LED lighting
Garmin (NYSE: GRMN) has acquired Lumishore, a privately-held company specializing in high-performance LED lighting systems for boats. Lumishore, with over 15 years of experience, offers premium LED lighting solutions for various vessels, from runabouts to superyachts. The acquisition brings a new product category that complements Garmin's existing marine portfolio and enhances vessel integration capabilities.
Lumishore, headquartered in Swansea, UK, with a distribution center in Sarasota, Florida, is known for its comprehensive range of single, dual, and full-color change underwater and above-water lighting systems. The company's associates will join Garmin's global workforce. While financial terms were not disclosed, this acquisition is expected to expand Garmin's innovative solutions across vessels and elevate the lighting experience for customers worldwide.
Garmin (NYSE: GRMN) ha acquisito Lumishore, un'azienda privata specializzata in sistemi di illuminazione a LED ad alte prestazioni per imbarcazioni. Lumishore, con oltre 15 anni di esperienza, offre soluzioni di illuminazione a LED di alta qualità per vari tipi di imbarcazioni, dai motoscafi ai superyacht. Questa acquisizione introduce una nuova categoria di prodotto che complementa il portfolio marino esistente di Garmin e migliora le capacità di integrazione delle imbarcazioni.
Lumishore, con sede a Swansea, Regno Unito, e un centro di distribuzione a Sarasota, Florida, è conosciuta per la sua gamma completa di sistemi di illuminazione subacquea e sopraelevata a colori singoli, doppi e a cambiamento totale. I collaboratori dell'azienda si uniranno alla forza lavoro globale di Garmin. Sebbene i termini finanziari non siano stati divulgati, si prevede che questa acquisizione espanda le soluzioni innovative di Garmin su tutta la gamma di imbarcazioni e migliori l'esperienza di illuminazione per i clienti in tutto il mondo.
Garmin (NYSE: GRMN) ha adquirido Lumishore, una empresa privada especializada en sistemas de iluminación LED de alto rendimiento para barcos. Lumishore, con más de 15 años de experiencia, ofrece soluciones de iluminación LED premium para diversos tipos de embarcaciones, desde lanchas hasta superyates. La adquisición introduce una nueva categoría de producto que complementa el portafolio marino existente de Garmin y mejora las capacidades de integración de embarcaciones.
Lumishore, con sede en Swansea, Reino Unido, y un centro de distribución en Sarasota, Florida, es conocida por su amplia gama de sistemas de iluminación subacuática y sobre la superficie de colores simples, dobles y de cambio total. Los asociados de la empresa se unirán a la fuerza laboral global de Garmin. Aunque no se divulgaron los términos financieros, se espera que esta adquisición amplíe las soluciones innovadoras de Garmin en embarcaciones y eleve la experiencia de iluminación para clientes en todo el mundo.
가민(Garmin) (NYSE: GRMN)은 루미쇼어(Lumishore)를 보트용 고성능 LED 조명 시스템을 전문으로 하는 사모 회사로 인수했습니다. 루미쇼어는 15년 이상의 경험을 가지고 있으며, 소형 보트부터 슈퍼요트까지 다양한 선박에 대한 프리미엄 LED 조명 솔루션을 제공합니다. 이번 인수로 가민의 기존 해양 포트폴리오를 보완하고 선박 통합 기능을 향상시키는 새로운 제품 범주가 추가됩니다.
루미쇼어는 영국 스완지에 본사를 두고 있으며, 플로리다 샤르소타에 유통 센터를 운영하고 있습니다. 이 회사는 단일색, 이중색 및 전환 색상의 수중 및 수상 조명 시스템의 포괄적인 범위로 알려져 있습니다. 회사의 직원들은 가민의 글로벌 인력에 합류할 것입니다. 재무 조건은 공개되지 않았지만, 이번 인수가 가민의 혁신적인 솔루션을 모든 선박에 확장하고 전 세계 고객의 조명 경험을 향상시킬 것으로 기대됩니다.
Garmin (NYSE: GRMN) a acquis Lumishore, une entreprise privée spécialisée dans les systèmes d'éclairage LED haute performance pour les bateaux. Lumishore, forte de plus de 15 ans d'expérience, propose des solutions d'éclairage LED de qualité supérieure pour divers types de navires, des petites embarcations aux superyachts. Cette acquisition introduit une nouvelle catégorie de produit qui complète le portefeuille marin existant de Garmin et améliore les capacités d'intégration des navires.
Lumishore, dont le siège est situé à Swansea, au Royaume-Uni, et qui dispose d'un centre de distribution à Sarasota, en Floride, est connue pour sa gamme complète de systèmes d'éclairage sous-marin et au-dessus de l'eau, avec des couleurs simples, doubles et à changement total. Les employés de l'entreprise rejoindront la main-d'œuvre mondiale de Garmin. Bien que les termes financiers n'aient pas été divulgués, cette acquisition devrait élargir les solutions innovantes de Garmin sur les navires et améliorer l'expérience d'éclairage pour les clients à travers le monde.
Garmin (NYSE: GRMN) hat Lumishore übernommen, ein privat gehaltenes Unternehmen, das auf LED-Beleuchtungssysteme für Boote spezialisiert ist. Lumishore verfügt über mehr als 15 Jahre Erfahrung und bietet hochwertige LED-Beleuchtungslösungen für verschiedene Fahrzeugtypen, von Sportbooten bis hin zu Superyachten. Die Übernahme bringt eine neue Produktkategorie, die das bestehende marine Portfolio von Garmin ergänzt und die Integrationsmöglichkeiten der Fahrzeuge verbessert.
Lumishore hat seinen Hauptsitz in Swansea, Großbritannien, und ein Vertriebszentrum in Sarasota, Florida, und ist bekannt für sein umfassendes Sortiment an einfarbigen, zweifarbigen und vollfarbigen Unterwasser- und Überwasserbeleuchtungssystemen. Die Mitarbeiter des Unternehmens werden dem globalen Team von Garmin beitreten. Obwohl die finanziellen Vereinbarungen nicht offengelegt wurden, wird erwartet, dass diese Übernahme die innovativen Lösungen von Garmin auf den Schiffen erweitert und das Beleuchtungserlebnis für Kunden weltweit verbessert.
- Expansion of Garmin's marine product portfolio with premium LED lighting systems
- Enhanced vessel integration capabilities for Garmin
- Acquisition of Lumishore's 15+ years of experience and expertise in marine lighting
- Potential for increased market share in the marine industry
- None.
Insights
Garmin's acquisition of Lumishore is a strategic move to expand its marine product portfolio and enhance its vessel integration capabilities. This deal brings several key benefits:
- Diversification into the premium LED lighting market for boats
- Potential for increased revenue through cross-selling opportunities
- Enhanced competitive position in the marine electronics sector
The acquisition aligns with Garmin's strategy of providing comprehensive solutions for boaters. By integrating Lumishore's technology, Garmin can offer more complete packages to boat manufacturers and aftermarket customers. This could lead to increased market share and higher average sale values per customer.
However, investors should consider potential challenges:
- Integration costs and timeline
- Possible cannibalization of existing products
- Market saturation in the marine LED lighting segment
Overall, this acquisition appears to be a positive step for Garmin, potentially driving growth in its marine segment and strengthening its market position.
Acquisition brings premium LED lighting solutions into Garmin's product portfolio
"Lumishore brings an exciting new product category that complements Garmin's existing marine portfolio and furthers our ability to provide seamless vessel integration. As a technology leader in LED lighting, Lumishore will expand Garmin's innovative solutions all around the vessel. Together, we look forward to delivering unmatched LED lighting technology to our customers around the world."
–Jarrod Seymour, Garmin Vice President, Marine Segment Leader
With over 15 years of experience, Lumishore offers premium LED lighting systems used on a variety of vessels from runabouts to superyachts. A trusted name in boat-wide LED systems, Lumishore offers a comprehensive range of single, dual and full-color change underwater and above-water lighting systems.
"Since our founding, Lumishore has been passionate about creating innovative products that enhance the boating experience. Garmin shares our passion for serving the marine industry, making them an ideal company to carry Lumishore into the future. We look forward to a bright future working together as we continue to elevate the lighting experience for our customers."
–Eifrion Evans, Lumishore Founder and CEO
Lumishore is headquartered in
Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor markets. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmin on social, or follow our blog.
About Garmin Ltd. Garmin Ltd. is incorporated in
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 30, 2023, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE Garmin Ltd.
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