Private Equity Firm Completes Thales Navigation Buy

Shah Capital Partners, a private equity group, said Thursday that an investment group has completed its purchase of San Dimas-based Thales Navigation, a division of Thales, in a deal worth $170M. The new company will be known as Magellan. Private equity investors in the group included Tudor Group, Galleon Group, Consolidated Press Holdings, AIG SunAmerica, and Eli Broad. Magellan is the manufacturer of the popular Magellan RoadMate portable car navigation systems, the Hertz NeverLost car navigation systems, and other GPS-based navigation products.