Chipset maker Qualcomm has sold its America transportation and logistics business Omnitracs to private equity firm Vista Equity Partners for US$800m in cash.
Omnitracs, which will become a standalone entity, specialises in commercial vehicle telematics…
Chipset maker Qualcomm has sold its America transportation and logistics business Omnitracs to private equity firm Vista Equity Partners for US$800m in cash.
Omnitracs, which will become a standalone entity, specialises in commercial vehicle telematics and GPS tracking and was the first company to offer a mobile information system for transportation and logistics. The company has since shipped more than 1.5 million units worldwide, with over 10,000 customers in 39 countries.
The acquisition will include all of Omnitracs operations in the United States, Canada and Latin America, including Sylectus and FleetRisk Advisors, which were acquired by the unit in 2011.
Headquartered in San Francisco, Vista Equity Partners currently has over US$7.1bn of capital committed to technology companies predominantly in the software solutions sector.
The acquisition is expected to be completed during the first quarter of Qualcomm’s fiscal 2014, which is between October and December 2013.
Barclays Capital acted as financial adviser to Qualcomm.
