Destinator bought by Intrinsyc Software
Date: Thursday, May 22 @ 17:46:22 UTC
Topic:
Canada based Intrinsyc Software International have announced they have agreed an asset purchase deal which will result in their acquiring the balance of assets in Destinator Technologies. The complicated deal involves Destinator China and Israel. Other offices in the US, Canada, Taiwan and Germany are not part of the deal.
The GPS Satellite Navigation market has become increasingly cuthroat of late with diminishing margins and price slashing by retailers causing financial headaches for all those involved. The smaller manufacturers and developers are finding it increasingly difficult to survive in the market place and whilst Destinator has a strong software product line it lacks any hardware manufacturing ability.
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