Category: The Trade

The news from London (reported somewhat differently here) is that Raymarine’s board is now negotiating with a single buyer, which is not Garmin, and anticipates a deal in which all debts will be paid off and credit lines extended (but from which share holders may get zilch).  Of course the deal is not done, but it sure sounds more certain, and a lot like what many of us were predicting last month.  We may not know who the buyer is for a while, but doesn’t it seem even less likely that Raymarine will go away?  However, part of the due diligence still underway may involve the lawsuit that Honeywell laid on Raymarine, Furuno, and Navico on Wednesday…

Heads are still being scratched. Why would SigNet S.A. — the French holding company that owns MaxSea and MapMedia, and is itself 48% owned by Furuno — buy Jeppesen’s Nobeltec division?  And what does this mean for VNS and Admiral users, and marine electronics?  I got to talk with all the companies involved yesterday, and am optimistic that Nobeltec customers will benefit from this deal, at least in the short term, and agree with many that the overall possibilities are, um, “interesting”…

The 2008 NMEA Convention in San Diego prompted many Panbo entries last October, and I’m hoping the return to Fort Myers this year will be at least as interesting.  One new feature of note is a Technology Award that will be judged by yours truly and three other BWI boating writers. The criteria will be “a combination of innovative design, benefits to boaters, practicality and value,” and the NMEA has wisely chosen to limit manufacturer entries to products that were not available for sale and delivery sixty days before the 2008 convention but are available sixty days before this show.  In other words, no vaporware please!

This is starting to get serious!  While this Reuters article also notes Garmin’s disclaimer that “there was no certainty an offer would be made”, yesterday Garmin had no comment at all.  Personally I have no knowledge of this deal whatsoever, and can tell you that the product people I know at both these companies seem to be full speed ahead.  But I’m starting to monitor the financial news closely.  Somewhat strangely, the most complete and original reporting seems to be coming from a Reuter’s guy in Bangalore, India; his piece yesterday helped me understand why this acquisition might make sense for Garmin:  Foreign distribution and an “OEM footprint” (in case the boatbuilding business ever comes back to life).  But how would the product lines be “rationalized” and what would a big Garmin/Raymarine combination mean to the relatively little recreational marine electronics industry?  Let’s discuss.

If you’re an electronics installer who’s ever spent hours wandering around a boatyard just to get a bit of wood or metal fabricated — or the customer who wondered where those hours went! — you’ll appreciate the custom install trucks put together by Voyager Marine Electronics of Essex, Massachusetts. Heck, these guys don’t even need to scrounge 110 outlets, as the vehicles are equipped with big alternators, dual battery banks, and Xantrex 3kW Freedom charger/inverters!  Voyager’s shop and show room aren’t too shabby either…

Things are changing around here, and in my magazine life too. News of the latter will come tomorrow, but do please note how much easier it has gotten to post comments on Panbo…