Vista Equity Partners has completed its acquisition of Omnitracs, formerly a subsidiary of Qualcomm.
In conjunction with this announcement, Omnitracs has signed a definitive agreement to acquire Roadnet Technologies, a provider of fleet management software solutions for private fleets.
Roadnet, based in Baltimore, Maryland, is a provider of routing, scheduling, optimization and mobile resource management software solutions in the US 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," says 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.
"We look forward to partnering Omnitracs and Roadnet to form a fleet and mobile resource management platform that will deliver a broad array of best-of-breed solutions for their respective market segments while collaborating on a set of key growth initiatives," says Robert Smith, chief executive officer of Vista Equity Partners.
Omnitracs has appointed John Graham as the chief executive officer and Jordan Copland as the chief financial officer of the newly combined standalone organisation. Graham 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.
Copland brings 13 years of strategic financial leadership experience including CFO roles at Harbor Freight Tools and GSI Commerce.
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.
