Chipset maker Qualcomm has sold its GPS tracking and telematics subsidiary Omnitracs Europe to the Astrata Group for an undisclosed fee.
The deal follows the separate sale of the global Omnitracs business to private equity firm Vista Equity Partners for…
Chipset maker Qualcomm has sold its GPS tracking and telematics subsidiary Omnitracs Europe to the Astrata Group for an undisclosed fee.
The deal follows the separate sale of the global Omnitracs business to private equity firm Vista Equity Partners for US$800m in cash last November.
Headquartered in the Netherlands, Omnitracs Europe specialises in commercial vehicle telematics and GPS tracking and has been in operation for over 25 years.
Astrata Group is a Singapore-headquartered provider of advanced location based IT solutions to commercial and governmental entities. The company combines GPS positioning, satellite and terrestrial wireless communications and geographic information technology to provide mission critical fleet management.
It is owned by Washington D.C. private equity fund Comsat International Holdings. Astrata’s chairman and CEO George Kappaz is also the chairman of CIH.
Commenting on the acquisition, Kappaz said: “We are excited to significantly expand Astrata’s presence in Europe with the acquisition of Omnitracs Europe. With highly complementary geographic presences, the combined operations will truly have a global reach and in-house access to best-in-class technologies, enhancing our product and service offerings to our customers throughout the world.”
