LONDON, January 29, 2013 /PRNewswire/ --
Fleet/Asset Management Business Will Operate as a Standalone Danaher Operating Company, Continuing to Expand Technology Platform & Retaining All Personnel & Locations
Navman Wireless, a provider of advanced fleet and asset management technology used to optimise business and government fleets as well as heavy equipment operations, today announced its acquisition by Danaher Corporation (NYSE: DHR), a Fortune 250 science and technology company. Navman Wireless will function as a standalone Danaher operating company, retaining the Navman Wireless brand as well as its personnel and locations.
The transaction follows a record 2012 for Navman Wireless and five successive years of revenue and installed base growth during which the company has dramatically expanded its OnlineAVL2 fleet and asset management platform, entered new vertical sectors including local services, transportation, construction, cold chain, mining, and oil and gas, and opened new geographic markets including Mexico, Italy, China and Taiwan.
Navman Wireless' technology currently monitors more than 175,000 vehicles and assets owned by over 14,000 organisations worldwide, making the company one of the largest fleet and asset management providers in the world. The OnlineAVL2 system, delivered under the Software-as-a-Service (SaaS) model, enables fleet and asset managers to track all vehicle and asset locations in real time as well as control fuel, labour and vehicle/asset operating costs. Innovations include the ability to manage both on- and off- highway vehicles, an advanced workflow forms engine, and third-party systems integration.
"Danaher has the resources, global footprint and commitment to support the continued growth of the Navman Wireless platform and business, along with a strong track record of building brands within its highly diversified portfolio," said TJ Chung, President of Navman Wireless. "All of these factors will help us continue to enhance our technology platform, expand into new vertical and geographic markets, and bring the benefits of fleet and asset management to vehicles and assets around the world that are not yet taking advantage of the technology."
Navman Wireless is Danaher's first acquisition in the fleet/asset management space, joining Danaher's portfolio of premier brands spanning test & measurement, life sciences & diagnostics, dental, environmental and industrial technologies. Financial details of the transaction were not disclosed.
About Navman Wireless
Navman Wireless is a global leader in GPS-based fleet optimisation products and services, including real-time vehicle tracking and analytics that enable companies to monitor, measure and improve fleet-related costs and efficiencies. The company's technology currently monitors more than 175,000 vehicles owned by over 14,000 organisations on five continents, making Navman Wireless one of the world's largest fleet management providers. An operating company of Danaher Corporation, Navman Wireless is based in Glenview, IL, with facilities in the U.S., Mexico, UK, Italy, Taiwan, Ireland, China, New Zealand and Australia. For more information, visit http://www.navmanwireless.com.
About Danaher
Danaher is a science and technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our premier brands are among the most highly recognised in each of the markets we serve. The Danaher Business System provides a foundation to our 59,000 associates around the world, serving customers in more than 125 countries. In 2011, we generated $16.1 billion of revenue. For more information please visit our website: http://www.danaher.com.
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SOURCE Navman UK
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