New Chief Executive Brings Investment to Peoplenet
Peoplenet Communications got a makeover last week, receiving $25 million in funding and naming a prominent figure in trucking technology as chief executive officer.
Norwest brought capital and management oversight, and the new executive had experience in transportation technology, Sarto said
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Former Qualcomm executive John Sarto’s appointment as CEO and Norwest Equity Partners’ investment in the company were not a coincidence. Sarto and Norwest came to Peoplenet as a package.
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Norwest chose to invest in Peoplenet because it saw the business as “a good company that had made sound business decisions and nice strides,” Sarto said.
