Raymarine in the News Again

[Intentional Drifter]

From the Times Online article, linked above:

"Ian Robertson, an analyst at Seymour Pierce, said: “Raymarine over-leveraged to make acquisitions and its customers were overleveraged. Everyone seems to have had unrealistic expectations of their future growth. The best way of describing Raymarine’s current situation is stuffed.” "

I guess our best hope is that someone will take them over after insolvency. I feel bad for the 400+ employees, but as the article points out, the company did a couple of bad boners when they moved into "plush offices" and bought out several European distributors.

ID

[Roy M]

Oops! Too late! I got a better offer. Sorry!

[Roy M]

Ooh! Ooh! Ooh! When will Raymarine release the dreaded secret broadband radar? Then I will truly roll about in victory and exhult with obscene joy!

[steve_hendry]

Panbo: The Marine Electronics Weblog: Raymarine nearly sold(?) & Honeywell's holiday surprise

Honeywell is suing Raymarine, among others for patent infringement. Also, Raymarine may have found a buyer.

[botanybay]

What does the section inside the article mean that notes Garmin won't be bidding for the entire company but rather will buy the operating subsiderary?

Odd phrasing but probably has a specific meaning

[GordMay]

Raymarine ends talks with Garmin
Garmin had been looking at buying Raymarine in a bid to gain market share in Europe but no deal materialised.

➥ UPDATE 1-Raymarine seeks sale, ends Garmin talks | Markets | Small Caps | Reuters

[GordMay]

Garmin makes (new) offer for Raymarine
In an announcement made on the London Stock Exchange today, Garmin announced it is offering 15 pence (19.74 cents U.S.) per share for all the shares of Raymarine Plc. Garmin says it expects the offer will receive the necessary regulatory approvals. As of mid-afternoon today there has been no official response from Raymarine.

See ➥ UPDATE 2-Garmin offers to buy Raymarine for 12.5 mln stg | Reuters

And ➥ Offer for Raymarine by Garmin - London Stock Exchange

[speedoo]

Thanks for the update Gord.

Looks to me like Garmin will succeed with this offer, and if it does I can't imagine a better outcome for us low-life users of marine electronics and associated stuff. That is, given the fact that Raymarine seems to have completely mucked up their business. Garmin, on the other hand, has impressed me as a pretty well run outfit that provides good products at very competitive prices.

As far as I can tell. there is, as the Garmin folks say, a very complementary match-up of product lines between the two companies.

[sck5]

YAY. I have a Garmin plotter and radar and a Raymarine autopilot. This is the perfect merger for me.