Garmin Ltd., which makes navigation products that use global positioning system technology, said Friday that it had acquired Canadian technology company Dynastream Innovations Inc. for about $36 million in cash.

Dynastream, based in Cochrane, Alberta, makes personal monitoring technology such as pedometers and heart rate monitors for sports and fitness products. It also develops wireless technology, which Garmin said it could use in its products aimed at its aviation, marine, and hiking and fitness customers.

Dynastream, with 50 employees, will operate as an independent subsidiary of Garmin, retaining its name, Canadian headquarters and product lines.

Garmin, based in the Cayman Islands but with operational headquarters in Olathe, doesn’t expect the deal to affect its earnings in 2007.

The company’s shares, which have traded in a 52-week range of $27.60 to $55.58, closed Friday at $49.96, down 93 cents in trading on the Nasdaq Stock Exchange.