Remote monitoring solutions specialist Telular Corporation is to acquire Reltima and GPS North America, two commercial telematics companies focused on the local fleet management market.
Telular made the acquisition through its satellite-based asset…
Remote monitoring solutions specialist Telular Corporation is to acquire Reltima and GPS North America, two commercial telematics companies focused on the local fleet management market.
Telular made the acquisition through its satellite-based asset tracking subsidiary SkyBitz, which was purchased for around US$42m back in December 2011.
Financial details were not disclosed. Telular would not comment on the deal.
Reltima provides GPS fleet tracking and fleet performance optimisation aimed at light duty vehicle fleets. GPS North America is Reltima’s largest distribution partner.
Commenting on the acquisition, Andrew Petrov, CEO of Reltima, said: “The combination of Reltima and our largest distribution partner, GPS North America, with SkyBitz represents an excellent strategic fit, bringing together the complementary strengths of our rich portfolios and robust go-to-market channels. This new relationship will give our dealers the power to leverage the strong and well-respected SkyBitz brand name against the larger competitors we face in the market today.”
Doug Milner, CEO of Telular, added: “By bringing Reltima and GPS North America together, we will be able to rapidly expand our footprint in the growing commercial telematics market.”
Telular is owned by private equity firm Avista Capital Partners, which acquired the company in a US$273.6m leveraged buyout in June 2013. Following the acquisition, Brendan Scollans, partner at Avista, said: “As a platform company, Telular gives us the opportunity to leverage its expertise and scale in the machine-to-machine sector to pursue acquisitions in the company’s current end markets as well as adjacent verticals.”
This acquisition is Telular’s first since Avista’s takeover.
The transaction is expected to close on or around 8 July 2015. Reltima and GPS North America were advised by Media Venture Partners, while Avista Capital Partners and Telular were advised by Kirkland & Ellis.
