Qualcomm Sells Off Omnitracs Business For $800 Million


Qualcomm has signed a definitive agreement to sell its Omnitracs telematics subsidiary to Vista Equity Partners for $800 million in cash.

The acquisition will include all of Omnitracs operations in the United States, Canada and Latin America, including Sylectus and FleetRisk Advisors, which were acquired by Omnitracs in 2011.

The acquisition is expected to be completed during the first quarter of Qualcomm’s fiscal 2014, subject to customary regulatory conditions.

Barclays Capital is serving as financial advisor to Qualcomm.

[Image courtesy: Qualcomm]

Also see:


The About page for TechTaffy

1984 Ventures

VC firm focusing in seed and early stage startups....

TransUnion to acquire Neustar for $3.1B

TransUnion has signed a definitive agreement to acquire Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC.

Huvr raises $5M

Huvr, a cloud-based industrial asset management solution company, has raised $5 million.

American Express acquires fintech company Kabbage

American Express has entered into an agreement to acquire Kabbage, a financial technology company that provides cash flow management solutions to small businesses.