Navman to be purchased by MiTAC

MiTAC, the parent corporation that owns Mio, is purchasing the Navman brand of personal navigation devices. More details of the purchase, slated to close next month, are expected to be released Monday. Mio made major inroads into the U.S. market during the 2006 holiday season with heavy discounts on the Mio C310x. Navman meanwhile, is best known for its NavPix system, which allows drivers to navigate via photos of destination points.