We're listening in on the Garmin Press call about the nüvifone G60 that they'll be co-releasing. They're pretty pumped about their synergistic strategic alignments (or somesuch corporate-speak), the news is that nüvifone will soon expand into a "broad range of devices." The G60 will be shown off, but more imporantly a new model be fully unveiled at MWC09, and apparently more will come later this year.
It looks like they're trying to stay mum about just what OS they're planning on using long-term. As we said before the G60 is some custom ROM and the next device isn't likely to be Android. Given one of these partners is Asus, it's still a good possibility that the announced device at MWC09 will run on Windows Mobile. Later on, though, all bets are off. Both members are part of the Open Handset Alliance and it will "be part of the strategy moving forward," so WinMo might not be the long-term solution.
If you're interested in the business aspect, it's a straightforward "contractual alliance with profit sharing" and co-branding. In other words, no mergers or acquisitions here, they're just working together. Both companies are free to do whatever they'd like with other gadgets, they're just working together on smartphones.
You can try to hunt down more deets at garminasus.com, but it's pretty slim pickings.