Qualcomm Sells Telematics Subsidiary to Private Equity Investors

Qualcomm says that its previously announced sale of Omnitracs, to Vista Equity Partners, a U.S.-based private equity firm, has been finalized. The agreement to sell the transportation and logistics business for approximately US$800 million in cash was originally announced in August.

Omnitracs was one of Qualcomm’s earliest businesses and has been a leader in fleet management and telematics for more than 25 years. We’d like to thank all of the employees, suppliers and customers for helping make Omnitracs a success, and look forward to many more years of accomplishments,”

-Derek Aberle, executive vice president and group president, Qualcomm.

 

The sale includes all of Omnitracs’ operations in the United States, Canada and Latin America.

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