Benzinga | May 25, 2021 09:51AM EDT

Garmin Acquires AeroData for Undisclosed Sum

* Garmin Ltd (NASDAQ: GRMN) acquired aircraft performance software provider AeroData Inc.

* The financial terms of the transaction were not disclosed.

* AeroData's portfolio includes runway analysis, takeoff and en-route performance, weight and balance, automated passenger and cargo load planning.

* AeroData's extensive load planning, performance, and flight path analysis expertise significantly expanded Garmin's digital services portfolio apart from broadening Garmin's presence in commercial aviation, Garmin EVP Phil Straub said.

* Garmin held $3.2 billion in cash and equivalents as of March 27, 2021.

* Price action: GRMN shares traded higher by 0.58% at $140.60 on Monday.