Magellan, a pioneer in personal GPS navigation is selling its consumer product division to Mitac, the company that owns the Mio brand. Mio personal GPS devices are big in Europe and growing in the US, even if they are behind Tomtom or Garmin.
It has been reported that Magellan's market share has fallen enough (45% to 13%) to put them in a difficult position. In such a competitive market, I think that the lack of software and hardware innovation of Magellan was unsustainable. Now the question is: what does Mio get out of this deal? Most likely intellectual property (IP), some introductions in US retail channels plus a falling brand... anything else?
Related: Mio Moov 310 Review
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