IBBI selects Fusion® as marine stereo/entertainment supplier, extends exclusive agreement with Garmin® electronics to 2024

Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), today announced that Fusion, a Garmin brand and worldwide leader in marine entertainment, has been selected as a supplier of choice for the Independent Boat Builders, Inc. (IBBI), the industry’s largest purchasing cooperative. Beginning Model Year 2020, this agreement will give members direct access to Fusion’s full line of audio entertainment products through 2024. Comprised of a 19-member network of leading boat brands, IBBI members collectively build nearly 25% of all boats sold in the U.S.

“We are extremely honored that IBBI has chosen Fusion to be a stereo supplier of choice,” said Dan Bartel, Garmin vice president of global consumer sales. “IBBI members are some of the most innovative boat builders in the industry, and together with Garmin, Fusion is committed to supplying them with exciting new products and solutions, and first-class service that meet and exceed the needs of their customers.”

Fusion offers an innovative range of stereos, speakers, amplifiers, subwoofers and audio accessories, designed and engineered to deliver a superior and intuitive audio entertainment in the challenging marine environment. Its flagship head unit – the Apollo RA770 – is the industry’s first touchscreen marine stereo with Apple Airplay and Wi-fi audio distribution.

In addition, Garmin, the parent company to Fusion, was awarded an extension to continue as IBBI’s exclusive marine electronics supplier for the next five years. This agreement grants IBBI members access to Garmin’s extensive product portfolio that includes some of the industry’s most sophisticated chartplotters and touchscreen multifunction displays, sonar technology, high-definition radar, autopilots, high-resolution mapping and other products and services that are known for innovation, reliability, and ease-of-use.

“We are excited to expand our strategic relationship with Garmin into the Fusion marine stereo product line,” said Tom Broy, IBBI president. “The Fusion stereo products are top-of-the-line products that can instantly add a sense of quality to any boat. Garmin was just awarded our supplier of the year award, so extending our Garmin contract was an easy decision.”

Garmin is the world’s leading marine electronics manufacturer1 and was recently named Manufacturer of the Year for the fourth consecutive year by the NMEA, an honor given to the most recognized marine electronics company for support of products in the field. Fusion, the leader in marine audio entertainment, is dedicated to offering innovative, intuitive, award-winning solutions that enhance personal leisure time on the water. Other Garmin marine brands include Navionics–a premier supplier of electronic charts, and EmpirBus™.

For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary markets, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin’s virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, instagram.com/garmin or youtube.com/garmin. For more information on Fusion, visit fusionentertainment.com or contact 623-580-9000.

1Based on 2017 reported sales.

About Garmin International Inc.

Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, Fusion and Navionics are registered trademarks of Garmin Ltd. or its subsidiaries.

All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 29, 2018, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.



Carly Hysell

Garmin International, Inc.

Phone | 913-397-8200

E-Mail | [email protected]