Vector Capital has sold Teletrac, a GPS tracking and fleet management software company, to Danaher Corporation.
“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,” said David Fishman, a Managing Director at Vector.
Teletrac is a fleet management software company that provides a cloud-based SaaS platform used to automate more than 200,000 vehicles across 87 countries in all industries. Services provided allow for GPS asset location, diagnostics, fuel efficiency, safety, compliance, scorecarding and business intelligence. The company has 500 employees and is headquartered in Garden Grove, CA (www.teletrac.com).
“Teletrac has established itself as the market leader in GPS tracking and fleet management software. 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”, said Tony Eales, CEO of Teletrac.
Vector Capital invests in spinouts, buyouts and recapitalizations of private or public technology businesses. The firm is based in San Francisco (www.vectorcapital.com).
The Danaher Corporation is a large global company with products concentrated in the fields of design, manufacture, and marketing of industrial and consumer products. The company is headquartered in Washington, DC (www.danaher.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-2-13