BALTIMORE, Dec. 19, 2013 /PRNewswire/ -- Omnitracs LLC today announced it has completed its acquisition of Roadnet Technologies, Inc. in an agreement that was announced on November 25th, 2013. Omnitracs, a former subsidiary of Qualcomm Incorporated, was acquired by Vista Equity Partners in November.
"We are excited that we are closing this transaction with Roadnet and acquiring a leading company in a growing market" said John Graham, Omnitracs' CEO. "Roadnet provides us a great opportunity to provide the broadest range of transportation and fleet management solutions in the industry. We look forward to supporting the Roadnet management team as they continue to grow the company and realize its full potential."
Roadnet will operate independently as a separate division within Omnitracs and will continue to use the Roadnet name, a trusted brand in the transportation technology industry for more than 30 years.
"Roadnet is excited to become a key component of the broader Omnitracs platform. The strength of a combined organization, particularly with such complementary solutions, will enable us to continue our legacy of leadership in the fleet management industry, and will provide us with the continued investment necessary to serve our customers with innovative products and an end-to-end solution," said Len Kennedy, Executive Vice President and GM, Roadnet.
Together, Omnitracs and Roadnet will provide data-enabled software and analytic solutions to nearly 3,800 customers with more than 500,000 vehicles, in over 60 different countries.
Omnitracs is the leading provider of fleet management software applications, information services, and hardware platforms. The company's intuitive technologies, including solutions for safety and compliance, fuel efficiency, driver retention, GPS fleet tracking, and fleet maintenance, enable its customers to solve common fleet problems and achieve their business objectives. Omnitracs pioneered the fleet telematics industry over 25 years ago and continues to serve over 2,500 private and for-hire fleet customers and more than 270,000 vehicles throughout North American and Latin America. For more information, please visit www.Omnitracs.com
About Roadnet Technologies
Roadnet Technologies is a leading provider of fleet management and logistics software applications that provide strategic territory and street-level route plans, multi-stop vehicle routing and scheduling, wireless dispatch and proof of delivery, and real-time GPS tracking. With over 3,400 customer installations worldwide, Roadnet solutions are successful in managing more than 250,000 vehicles each day. For over 30 years, the company has helped its customers reduce fuel spending, unnecessary miles, and carbon emissions, while increasing productivity and improving service to their customers. For more information, visit www.Roadnet.com
About Vista Equity Partners
Vista Equity Partners, a U.S. based private equity firm with offices in Austin, Chicago and San Francisco, currently invests nearly $8 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information please visit www.vistaequitypartners.com.
SOURCE Omnitracs LLC