Thales acquires sat-nav firms Magellan and NavSol

Sea Technology, Sep 2001

Magellan Corp. and Navigation Solutions are now part of the Thales group, following approval by U.S. authorities. The acquisition was originally announced by Thales and Orbital Sciences on May 23. With this acquisition, Thales bolsters its position in the GPS (global positioning system) equipment and services market, where it already enjoyed European leadership through subsidiary Thales Navigation S.A. According to Thales, satellite navigation systems such as GPS constitute one of the group's strategic development objectives, due to the high growth potential of these markets and broad-based application to other business segments within the company.

Thales Navigation Inc. (formerly Magellan Inc.) and Thales Navigation S.A., along with their subsidiaries, have been combined to form a new operational entity, Thales Navigation, headquartered in Santa Clara, California. Thales Navigation is the world's third leading company in this market, with nearly 600 employees and projected revenues of 150 million euros for 2001.

"On both sides of the Atlantic, we share the same commitment to delivering quality, innovation and service to our customers," said Henry Gaillard, managing director of Thales Navigation. "Our highly motivated, experienced and professional teams will drive our sustainable growth and profitability."