[10-31-07 – Satellite Today]  Garmin Ltd.’s third quarter total revenue is up 79 percent from the same time last year, the company announced Oct. 31.
    All segments reported revenue gains, as Garmin had total revenue of $729 million for the quarter ending Sept. 30, compared to $408 million in 2006.
    "Our continued strong growth in the automotive/mobile segment demonstrated that our products are well-positioned to take advantage of the growing interest in portable navigation devices,”Min Kao, Garmin’s chairman and CEO, said in a statement. “Independent market research indicates we have maintained a strong leadership position in North America with approximately 50 percent PND market share, and our market position in Europe continues to improve as well.”
    Garmin also announced its intention to acquire all outstanding shares of navigation company Tele Atlas N.V. "Advanced mapping data is an essential ingredient for the continued growth of the navigation industry and this acquisition provides a means for Garmin to contribute more broadly to the development and growth of this market,”the company said.