Vector Capital sells GPS tracking arm

Vector Capital sells GPS tracking arm

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San Francisco: Vector Capital has sold Teletrac Inc., a GPS tracking and fleet management software company, to Danaher Corporation. Teletrac provides a cloud-based software as a service (“SaaS”) platform to fleet operators.

Teletrac”s global network tracks more than 200,000 vehicles across 87 countries allowing fleet owners and managers to drive operational efficiency across their fleets. Commenting on the transaction, Tony Eales, CEO of Teletrac, said: “As we look forward, Danaher is an ideal partner for our next phase of growth and for the long-term. We will enjoy the support of a global organisation with a long track record of building market leading and operationally excellent brands.” The value of the deal has not been disclosed.

Source: marketandwatch.com