Monday, November 23, 2009

Naverus Acquired By GE

Kent, Washington-based Naverus, a provider of aviation navigation technology, has been acquired by GE Aviation, GE said late Monday. Financial details of the acquisition were not disclosed. GE said the buy would bring technology to GE Aviation's Systems business, which will better address air traffic management needs of its customers. Naverus develops navigation software which helps reduce fuel consumption in aircraft, and also helps in GPS-based aviation naviation. The firm has around 60 employees. No details on the impact on local employment was given. Naverus was venture backed by Foundation Capital and East Peak Partners, and had raised around $14.0M in two round of funding.