Garmin Ltd. is a multinational technology company that specializes in GPS technology and wearable technology. The company was founded in 1989 in Lenexa, Kansas, USA, by Gary Burrell and Min Kao. The name "Garmin" is a combination of the founders' names. The company is headquartered in Schaffhausen, Switzerland and has offices in the United States, Asia, and Europe.
Garmin's products include GPS devices for aviation, automotive, marine, and outdoor activities, as well as wearable technology, such as activity trackers and smartwatches. In addition to consumer products, Garmin also provides GPS-based professional solutions, such as those used in aviation, maritime, and military applications.
Garmin went public on the NASDAQ stock exchange in 2000, with an initial public offering (IPO) of 14.8 million shares of its common stock at a price of $14 per share. Since then, the company's stock has experienced significant growth, with a market capitalization of over $23 billion as of May 2023.
Garmin has made a number of strategic acquisitions over the years, such as the purchase of digital mapmaker Navigon in 2011 and fitness tracking company Firstbeat in 2020. These acquisitions have helped the company expand its offerings and remain competitive in the rapidly evolving technology industry.
In recent years, Garmin has also expanded its product line to include cameras for action sports and dashcams for automobiles. The company has also made a push into the aviation market, with the introduction of the Garmin Autoland system, which can automatically land an airplane in case of an emergency.