GPS provider Garmin Ltd. reported Friday that it has acquired Dynastream Innovations Inc. for $36 million in cash in a move that will advance Garmin's health and fitness products.

Garmin is perhaps best known for its global positioning system products, which are used by hikers, boaters, drivers, and others to determine their exact location and to provide travel directions. But the company also offers a line of health and fitness products. Dynastream manufactures a variety of personal monitoring products like foot pods and heart rate monitors for health, sports, and fitness use.

"Dynastream is known for technology innovations like the ANT wireless interface protocol, which can be utilized by a wide variety of Garmin products including those designed for aviation, marine, and outdoor use," said Min Kao, chairman and CEO of Garmin, in a statement.

Dynastream's foot pod sensor is a high-accuracy long-battery-life device that competes with pedometers; its heart rate sensors utilize the ANT ultra-low-power wireless interface protocol.

Garmin said Dynastream, which employs about 50 persons, will continue to operate from its headquarters in Cochrane, Canada, as an independent subsidiary of Garmin Ltd.