FleetMatics acquires vehicle management firm SageQuest 25 August 2010
Commercial vehicle tracking specialist FleetMatics has acquired vehicle management systems firm SageQuest for an undisclosed cash sum.
The deal, which concluded yesterday, sets the scene for what's claimed to be the fastest growing, global software-as-a-service (SaaS) company for vehicle management.
"With this acquisition of SageQuest, FleetMatics will extend our ability to deliver the best-in-class products and services to fleets of all sizes," comments Jim Travers, CEO of FleetMatics.
"It is the strength of our combined products and services, as well as our reputations as superior service providers that compelled this combination to happen," he adds.
"While both organizations have had successful records, this merger positions us as the clear market leader," adds Dennis Abrahams, president of SageQuest, who will now report to Jim Travers.
Telematics consultancy C.J. Driscoll & Associates sees it as a good thing. "These two companies have each established themselves as leading competitors in their respective market segments. The combined company possesses an impressive team, which has deployed solutions that have become well accepted by both large and small fleets," states CEO Clem Driscoll.
And he adds: "The market for GPS tracking continues to evolve and mature at an intense pace, and a number of market leaders are starting to emerge. The mobile resource management (MRM) market is still underpenetrated and the industry is going to experience serious growth over the next several years."
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