RACINE, Wis., July 11, 2011 (GLOBE NEWSWIRE) -- Johnson Outdoors Marine Electronics, Inc. today announced it has acquired the assets of Waypoint Technologies, maker of LakeMaster,® the premier brand of high definition electronic lake charts among Northern US anglers. The asset purchase includes Pro Map Technologies, the LakeMaster® proprietary inland water survey techniques and bathymetric data processing technology, providing future exclusivity of an expanded portfolio of LakeMaster® digital maps for Humminbird® fishfinders. Details of the transaction are not being released.
"We know that whether you're fishing for fun or in professional competition, it's all about catching fish," said Kelly T. Grindle, Senior Group Vice President – Marine Electronics & Watercraft for Johnson Outdoors. "That's why we're focused on innovation that gives anglers a real and meaningful edge out on the water. LakeMaster® is the perfect complement to our marine electronics portfolio which is known for pioneering innovation like Humminbird® Side Imaging® Sonar technology and the Minn Kota® i-Pilot™ for wireless hands-free steering and boat positioning. Importantly, LakeMaster® joins us as a leading regional brand that now will have the resources to soon expand its geographic mapping coverage and realize its nationwide growth potential."
Founded in 1992 by Mike Wood, LakeMaster® has evolved into the recognized leader in electronic lake charts by first combining highly accurate GIS data for inland lakes and waterways with advanced Global Positioning System (GPS) and sonar technologies. LakeMaster® charts and maps are built using unique on-the-water survey techniques to capture high definition digital marine bathymetry and then employing proprietary data processing technology to create detailed lake charts in one-foot depth increments. LakeMaster® high definition 2D and revolutionary 3D shaded relief charts are available through pc-based programs, computer software and Secure Digital (SD) cards and sold through sporting goods, outdoor retailer and tackle shop channels.
"We are pleased to join Johnson Outdoors Marine Electronics, a business that values people and shares our commitment to winning innovation, outstanding quality and customer service excellence," said Mike Wood, founder of LakeMaster. "They have a proven track record of leveraging their significant product development, distribution and marketing strengths to drive strong brands into sustained market-leadership positions. Importantly, our combined technology platforms present new and unique opportunities to enhance the fishing experience and bring excitement and growth to the marketplace. We are very excited by the future."
LakeMaster® will continue to operate from its facility in Little Falls, Minnesota and be integrated within the Marine Electronics business, which includes market-leading Minn Kota®, Humminbird®and Cannon®brands, as well as Geonav®, a new venture into the blue-water electronics market. Waypoint and Pro Map® staff will become Johnson Outdoors Marine Electronics employees, utilizing the knowledge and know-how on which the LakeMaster® brand was built to expand coverage areas, to develop new innovative chart features, and for integration with the Company's current and future marine electronic technologies.
ABOUT JOHNSON OUTDOORS MARINE ELECTRONICS, INC.
Johnson Outdoors Marine Electronics, Inc., a wholly-owned subsidiary of Johnson Outdoors Inc. (Nasdaq:JOUT), consists of the Minn Kota®, Humminbird®, Geonav® and Cannon® brands. Minn Kota® is the world's leading manufacturer of electric trolling motors, as well as offers a complete line of shallow water anchors, battery chargers, trim tabs and marine accessories. Humminbird® is a leading innovator and manufacturer of fishfinders, fishfinder/GPS combo units, ice flashers and digital depth gauges. Geonav® develops and manufactures state-of-the-art integrated navigation systems and autopilots for blue-water fishing and cruising yachts. Cannon® is the leader in controlled-depth fishing and includes a full line of downrigger products and accessories.
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