OLATHE, Kan./October 22, 2024/PR Newswire — Garmin Ltd. (NYSE: GRMN) announced its acquisition of Lumishore, a leading company in the design and manufacture of high-performance above and underwater LED lighting systems for boats. This strategic acquisition broadens Garmin’s marine offerings by integrating Lumishore’s advanced lighting technology.
“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,” said Jarrod Seymour, Garmin Vice President, Marine Segment Leader.
Lumishore: A Leader in Marine LED Lighting
Founded over 15 years ago, Lumishore has built a reputation for offering premium LED lighting systems for various vessels, ranging from small runabouts to large superyachts. Their comprehensive product line includes single, dual, and full-color change underwater and above-water lighting systems, making them a trusted name in marine lighting technology.
Lumishore’s Commitment to Innovation and Partnership
“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,” said Eifrion Evans, Lumishore Founder and CEO.
Expanding Garmin’s Marine Segment
Lumishore is headquartered in Swansea, United Kingdom, with a distribution center in Sarasota, Florida. Known for its vertically integrated structure, Lumishore manages in-house R&D and production, and its associates will now become part of Garmin’s global workforce. The acquisition’s financial terms have not been disclosed.
This move enhances Garmin’s commitment to innovation and its mission to deliver world-class technology to its customers. Garmin’s expanded marine portfolio now includes Lumishore’s advanced LED lighting systems, further solidifying its leadership position in the marine electronics industry.
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.
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About Garmin Marine
About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, ActiveCaptain, Fusion and Navionics are registered trademarks and AutoGuidance+, GSD, LiveScope, BlueNet, OneHelm, EmpirBus, Garmin Navionics+ and Garmin Navionics Vision+ are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
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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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