Vista Equity Partners has completed its previously announced acquisition of Omnitracs, formerly a subsidiary of Qualcomm Inc.
In a related announcement, Omnitracs has signed a definitive agreement to acquire Roadnet Technologies. Roadnet, based in Baltimore, MD, is a provider of routing, scheduling, optimization and mobile resource management software solutions in the U.S. and internationally.
“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,” said Len Kennedy, CEO of Roadnet.
Roadnet will continue to operate independently as a separate division within Omnitracs.
The combined company will offer a portfolio of data-driven software, information and analytic solutions focused on driver safety, compliance and productivity, operator planning, routing and resource management, and 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,” said Robert Smith, CEO of Vista Equity Partners.
Vista paid $800 million to acquire Omnitracs. The acquisition will include all of Omnitracs operations in the U.S., Canada and Latin America, including Sylectus and FleetRisk Advisors, which were acquired by Omnitracs in 2011.
Omnitracs also announced the appointment of John Graham as the CEO and Jordan Copland as the CFO of the newly combined stand-alone organization.
Graham is joining the company from Intergraph Corp., where he has served as president of the Security, Government and Infrastructure Division. Previously, he held senior level positions at UGS, now Siemens PLM, as well as other leading technology companies, both public and private.
Copland has 13 years of strategic financial leadership experience including CFO roles at Harbor Freight Tools and GSI Commerce.
“I am thrilled to be joining the combined Omnitracs and Roadnet. The transportation and logistics industry is so important to our economy, and the solutions that we provide to our customers are really mission-critical to their daily operation. The history of innovation and industry leadership as well as the opportunity that lies ahead is truly exciting, and I look forward to engaging with the employees of both companies to expand that leadership and go capture that opportunity,” said Graham.
Together, Omnitracs and Roadnet will serve nearly 3,800 customers with more than 500,000 vehicles, in over 60 different countries.