Omnitracs Completes Roadnet Acquisition
Truck technology supplier Omnitracs said it has completed its acquisition of fleet software provider Roadnet Technologies Inc. Terms were not disclosed.
The acquired company will operate independently as a separate division within Omnitracs and will continue to use the Roadnet name, Omnitracs said.
Omnitracs, based in San Diego, first announced its plans to purchase Roadnet on Nov. 25, the same day that Vista Equity Partners bought Omnitracs for about $800 million. Omnitracs was previously a subsidiary of Qualcomm Inc.
“Roadnet provides us a great opportunity to provide the broadest range of transportation and fleet-management solutions in the industry,” Omnitracs CEO John Graham said in the Dec. 19 announcement. “We look forward to supporting the Roadnet management team as they continue to grow the company and realize its full potential.”
Roadnet, headquartered in Baltimore, offers its route-planning and fleet-management software primarily to the private-carrier market.
“Roadnet is excited to become a key component of the broader Omnitracs platform,” said Len Kennedy, executive vice president and general manager at Roadnet. “The strength of a combined organization, particularly with such complementary solutions, will enable us to continue our legacy of leadership in the fleet-management industry, and will provide us with the continued investment necessary to serve our customers with innovative products and an end-to-end solution.”
