Magellen surrenders product line to MiTAC

As the recession in the United States continues and hits many companies hard, it has recently hit Magellan especially hard. We can’t say we didn’t see this coming, like the auto industry, Magellan just wasn’t making products that the public wanted. As a result, they’re forced to give up their products to MiTAC. MiTAC, as you may or may not know, is the parent company of Mio, so it makes sense that they bought Magellan out.

For the time being, not many details have been released on this acquisition, although we do know that it will take place in January 2009, but the financial terms have not been disclosed. Stay tuned for more details as they become available.