GPS device company Garmin Ltd. (NASDAQ:GRMN) has acquired European competitor Navigon AG. The financial details of this transaction was undisclosed, but it is rumored to be worth around $72 million. Navigon will now become a subsidiary of Garmin. Germany based GPS company Navigon produces navigation software and manufactures GPS devices. Navigon also has GPS applications for Android and the iPhone. [TechCrunch]

At the Google Inc. (NASDAQ:GOOG) Inside Search press event in San Francisco, California, the company announced several new features. Now on mobile devices, you can search for results using images. Google now allows you to search for results using the microphone built into your computer. Google added an Instant Pages feature to Chrome.

Google Earth was launched in 2005. Every year Google updates the images in Google Earth in certain portions of the world. Google updated Google Earth to include what Haiti looked like after the major earthquake. They also updated Google Earth with imagery from Japan to show what happened after the tsunami. However Google Earth never shows you imagery from the country of Israel for legal reasons.

J.C. Penney Company, Inc. (NYSE:JCP) is believed to be poaching Ron Johnson from Apple Inc. (NASDAQ:AAPL) to be their new CEO. Johnson worked on Apple’s retail stores. Johnson would succeed current CEO Myron “Mike” Ullman at J.C. Penney.

Ted Leonsis is a former AOL executive that owns the NBA Washington Wizards. Leonsis is currently a Vice Chairman at Groupon Inc., but he is also an investor in competitor LivingSocial. Leonsis also has ties to LivingSocial’s board of directors. This could be a major conflict of interest.

Nokia Corporation (NYSE:NOK) and Apple Inc. (NASDAQ:AAPL) have announced a patent license agreement together. The agreement will end all patent litigation between both companies. This includes complaints being withdrawn from the U.S. International Trade Commission.

Canvas is a company that was founded by 4chan founder Christopher Poole (known as moot). Canvas has raised $3 million in Series A funding. Some of the previous angel investors that participated in this round include SV Angel, Lerer Ventures, Andreessen Horowitz, Founder Collective, and Joshua Schachter. Canvas’ previous round of funding was $625,000. Canvas allows users to easily edit images through the browser. Canvas added oEmbed support for several websites recently. Canvas currently has five employees including Poole. [TechCrunch]

Over this past WWDC, Apple Inc. (NASDAQ:AAPL) specifically discussed only software. They announced iCloud, iOS 5, and the new Mac operating system. It is believed that the iPhone 5 will be released in September. Sources with 9to5Mac have revealed that the iPhone 5 is now in the final testing stage. Employees at Apple are actually carrying around the devices with them for testing purposes as of right now. [9to5Mac]