Aug. 16, 2013: Vector Capital Sells Fleet Management Business, Teletrac
Transaction Will Allow Teletrac to Continue Focus on Service Enhancement, Product Development
GARDEN GROVE, Calif. — Vector Capital has sold Teletrac® Inc., a leading GPS tracking and fleet management software company, to Danaher Corp. Teletrac provides a comprehensive cloud-based software as a service (SaaS) platform for fleet management, which the company said currently tracks more than 200,000 vehicles across 87 countries.
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.”