Aug. 16, 2013: Vector Capital Sells Fleet Management Business, Teletrac
Transaction Will Allow Teletrac to Continue Focus on Service Enhancement, Product Development
Commenting on the transaction, Tony Eales, CEO of Teletrac, said, “Vector Capital has been a great partner in transforming Teletrac into a world-class SaaS business through thoughtful investments to accelerate our product roadmap and go-to-market platform. 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 organization with a long track record of building market leading and operationally excellent brands. We believe this transaction will benefit our employees and customers, and will allow us to continue our long-term focus on service enhancement, innovative product development, and expanded market reach.”
David Fishman, a managing director at Vector Capital, said, “We have had a very successful investment in Teletrac and partnership with the management team. We are pleased to have selected a buyer for Teletrac that will continue to invest in the company, its employees, and its products to further grow the business. Teletrac is the most recent example in Vector’s long history of partnering with management to realize significant value by growing and significantly transforming technology companies.”
For more information, visit www.teletrac.com.
Publication date: 8/12/2013