Vista Equity Seals Omnitracs Acquisition; Omnitracs to Acquire Roadnet Technologies
Vista Equity Partners, LLC (“Vista) has announced that it has completed its acquisition of Omnitracs, Inc., formerly a subsidiary of Qualcomm Incorporated. In conjunction with this announcement, Omnitracs announced that it has signed a definitive agreement to acquire Roadnet Technologies, Inc. (“Roadnet”), a leading provider of fleet management software solutions for private fleets.
Both Omnitracs and Roadnet have industry leading positions, proven product offerings, loyal and satisfied customers, and deep domain expertise within their employee bases. Leveraging its experience with numerous other vertically oriented software and data-enabled businesses, Vista is uniquely qualified to help the combined company achieve continued growth, product expansion and enhanced customer service.
Roadnet, based in Baltimore, Maryland, is a leading provider of routing, scheduling, optimization and mobile resource management software solutions in the U.S. and internationally. Roadnet’s fleet management platform enables its customers to solve complex transportation problems in a simple manner. “Roadnet is excited to become part of the Omnitracs and Vista family. Our solutions are very complementary and together we can enable our customers to achieve even greater levels of leadership in fleet management, safety, compliance and efficiency,” said Len Kennedy, Chief Executive Officer of Roadnet. Roadnet will continue to operate independently as a separate division within Omnitracs.
The combined company will offer a broad portfolio of data-driven software, information and analytic solutions focused on (i) driver safety, compliance and productivity, (ii) operator planning, routing and resource management, and (iii) vehicle management, maintenance and fuel efficiency.
Omnitracs is also announcing the appointment of John Graham as the Chief Executive Officer and Jordan Copland as the Chief Financial Officer of the newly combined stand-alone organization. John is joining from Intergraph Corporation, where he has served as President of the Security, Government and Infrastructure Division, a global business that provides geospatial, mobility and resource management technologies to both government and commercial industries.
The closing of the Roadnet transaction is expected to be completed in December 2013 and is conditioned upon, among other things, clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions.
Additional info at: www.Roadnet.com, www.Omnitracs.com and www.vistaequitypartners.com.
Category: General Update
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