Tuesday, November 26, 2013
Qualcomm Completes Omnitracs Sale; Omnitracs Buys Roadnet
San Diego-based Qualcomm said late Monday that it has completed its sale of Omnitracs, the company's GPS fleet management software and products division, to private equity firm Vista Equity Partners. The deal was worth approximately $800M in cash. In a related move, Omnitracs said it has signed a definitive agreement to acquire Roadnet Technologies, a provider of fleet management software. Financial details of the Roadnet Technologies acquisition were not announced. Roadnet develops fleet management software solutions for private fleets, and is based in Baltimore, Maryland.