Garmin acquires MYLAPS, a leading sports timing company
Garmin (NYSE: GRMN) has announced the acquisition of MYLAPS, a Dutch company specializing in sports timing and performance analysis technology. MYLAPS, founded in 1982 and headquartered in Haarlem, Netherlands, provides integrated timing, live tracking, and performance analysis solutions for running, cycling, motor sports, and equine competitions.
The acquisition brings over 200 full-time employees to Garmin and expands its presence across North America, Europe, Asia, and Australia. While financial terms were not disclosed, the strategic acquisition aims to enhance Garmin's performance-focused training and race-day technology offerings. MYLAPS serves elite brands and race management companies globally with data-driven technology solutions.
Garmin (NYSE: GRMN) ha annunciato l'acquisizione di MYLAPS, un'azienda olandese specializzata in tecnologie per il cronometraggio sportivo e l'analisi delle prestazioni. Fondata nel 1982 e con sede ad Haarlem, nei Paesi Bassi, MYLAPS offre soluzioni integrate di cronometraggio, tracciamento in tempo reale e analisi delle prestazioni per competizioni di corsa, ciclismo, sport motoristici e ippica.
Con questa acquisizione, Garmin integra oltre 200 dipendenti a tempo pieno e amplia la propria presenza in Nord America, Europa, Asia e Australia. Sebbene i termini finanziari non siano stati resi noti, l'operazione strategica punta a potenziare le offerte di Garmin dedicate all'allenamento orientato alle prestazioni e alle tecnologie per le giornate di gara. MYLAPS fornisce soluzioni tecnologiche basate sui dati a marchi di élite e società di gestione gare in tutto il mondo.
Garmin (NYSE: GRMN) ha anunciado la adquisición de MYLAPS, una empresa neerlandesa especializada en tecnología de cronometraje deportivo y análisis de rendimiento. Fundada en 1982 y con sede en Haarlem, Países Bajos, MYLAPS ofrece soluciones integradas de cronometraje, seguimiento en vivo y análisis de rendimiento para competiciones de carrera, ciclismo, deportes de motor y equitación.
La adquisición incorpora a Garmin más de 200 empleados a tiempo completo y amplía su presencia en Norteamérica, Europa, Asia y Australia. Aunque no se divulgaron los términos financieros, la adquisición estratégica busca fortalecer las ofertas de Garmin centradas en el entrenamiento de alto rendimiento y la tecnología para el día de la carrera. MYLAPS provee soluciones tecnológicas basadas en datos a marcas élite y empresas organizadoras de carreras a nivel mundial.
Garmin (NYSE: GRMN)은 스포츠 타이밍 및 성능 분석 기술을 전문으로 하는 네덜란드 기업 MYLAPS를 인수했다고 발표했습니다. 1982년에 설립되어 네덜란드 하를럼에 본사를 둔 MYLAPS는 달리기, 사이클링, 모터스포츠, 승마 대회를 위한 통합 타이밍, 실시간 추적 및 성능 분석 솔루션을 제공합니다.
이번 인수로 Garmin은 200명 이상의 정규 직원을 확보하게 되었으며, 북미, 유럽, 아시아, 호주 전역에서의 입지를 확장했습니다. 재무 조건은 공개되지 않았으나, 이번 전략적 인수는 Garmin의 성능 중심 훈련 및 경기 당일 기술 제공을 강화하는 데 목적이 있습니다. MYLAPS는 전 세계 엘리트 브랜드와 경주 관리 회사에 데이터 기반 기술 솔루션을 제공합니다.
Garmin (NYSE : GRMN) a annoncé l'acquisition de MYLAPS, une entreprise néerlandaise spécialisée dans les technologies de chronométrage sportif et d'analyse de performance. Fondée en 1982 et basée à Haarlem, aux Pays-Bas, MYLAPS propose des solutions intégrées de chronométrage, de suivi en direct et d'analyse de performance pour les compétitions de course à pied, cyclisme, sports mécaniques et équitation.
Cette acquisition apporte à Garmin plus de 200 employés à temps plein et étend sa présence en Amérique du Nord, en Europe, en Asie et en Australie. Bien que les termes financiers n'aient pas été divulgués, cette acquisition stratégique vise à renforcer les offres de Garmin axées sur l'entraînement performant et les technologies pour le jour de la course. MYLAPS fournit des solutions technologiques basées sur les données aux marques d'élite et aux organisateurs de courses dans le monde entier.
Garmin (NYSE: GRMN) hat die Übernahme von MYLAPS bekannt gegeben, einem niederländischen Unternehmen, das sich auf Sportzeitmessung und Leistungsanalyse-Technologie spezialisiert hat. MYLAPS, gegründet 1982 und mit Hauptsitz in Haarlem, Niederlande, bietet integrierte Lösungen für Zeitmessung, Live-Tracking und Leistungsanalyse bei Lauf-, Radrenn-, Motorsport- und Pferdewettbewerben.
Durch die Übernahme erhält Garmin mehr als 200 festangestellte Mitarbeiter und erweitert seine Präsenz in Nordamerika, Europa, Asien und Australien. Obwohl die finanziellen Details nicht bekannt gegeben wurden, zielt die strategische Übernahme darauf ab, Garmins Angebote für leistungsorientiertes Training und Renntag-Technologien zu verbessern. MYLAPS beliefert weltweit Elite-Marken und Rennveranstalter mit datenbasierten Technologielösungen.
- Strategic expansion into sports timing and race management technology
- Access to MYLAPS' established global presence across multiple continents
- Addition of 200+ experienced employees in sports technology
- Complementary technology integration potential for performance tracking
- Expansion into new sports verticals including motor sports and equine competitions
- Financial terms not disclosed, creating uncertainty about acquisition cost and impact
- Integration challenges possible with 200+ employees across multiple global locations
- Potential operational complexities in managing diverse sports technology platforms
Insights
Garmin's MYLAPS acquisition strengthens its competitive sports ecosystem with elite timing technology, enhancing both consumer and event management offerings.
Garmin's acquisition of MYLAPS represents a strategic expansion of its performance analytics ecosystem. MYLAPS brings specialized expertise in automatic sports timing and performance tracking that complements Garmin's existing wearable technology portfolio. The Dutch company's solutions span multiple sports categories including running, cycling, motorsports, and equine competitions - all areas where Garmin already has established product lines.
This acquisition delivers three key strategic advantages. First, it vertically integrates race management capabilities into Garmin's ecosystem, allowing the company to offer end-to-end solutions from individual training to full event management. Second, it enhances Garmin's data analytics capabilities through MYLAPS' performance tracking tools, potentially creating more sophisticated metrics for athletes. Third, it strengthens Garmin's B2B offerings by adding MYLAPS' relationships with race management companies and elite sports brands.
With MYLAPS' 200+ employees and global presence across four continents, Garmin gains both technical expertise and established market channels in the competitive sports timing sector. The absence of disclosed financial terms suggests the acquisition size isn't material enough to require detailed reporting, though it could still represent significant strategic value. This move aligns with Garmin's strategy of targeted acquisitions that extend its technological capabilities rather than merely expanding market share in existing categories.
Acquisition adds performance tracking and race management solutions
"We are excited to bring MYLAPS and their trusted timing technologies into the Garmin family and believe the combination will transform the competitive experience for our passionate customers. Together, we look forward to setting a new standard for performance-focused training and race-day technology."
-Brad Trenkle, Garmin Co-Chief Operating Officer
"Since 1982, MYLAPS has been a global leader in sports technology, inventing automatic sports timing and revolutionizing how athletes, racers and events measure performance. We are excited to team up with Garmin to bring unparalleled training, timing and event management solutions to its extensive global community of performance-minded customers."
-Camiel Slaats, MYLAPS Managing Director
MYLAPS is headquartered in Haarlem,
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
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 28, 2024, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983), and the Quarterly Report on Form 10-Q for the quarter ended March 29, 2025 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118). Copies of such Form 10-K and Form 10-Q are available at https://www.garmin.com/en-US/investors/sec/. 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.
MEDIA CONTACT:
Krista Klaus
Garmin International, Inc.
913-397-8200
media.relations@garmin.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/garmin-acquires-mylaps-a-leading-sports-timing-company-302516582.html
SOURCE Garmin Ltd.
FAQ
What company did Garmin (GRMN) acquire in July 2025?
How many employees does MYLAPS bring to Garmin through the acquisition?
What markets does MYLAPS serve in the sports timing industry?
How will the MYLAPS acquisition benefit Garmin's business?
What is the financial value of Garmin's MYLAPS acquisition?
