GLENVIEW -- Fleet management solutions provider Navman Wireless said it has been acquired by Danaher Corp. a Fortune 250 science and technology company. Terms of the transaction were not announced.
Navman Wireless will function as a stand-alone Danaher operating company, retaining the Navman Wireless brand as well as its personnel and locations. The transaction follows a record 2012 for Navman Wireless and five successive years of revenue and installed base growth during which the company has dramatically expanded its OnlineAVL2 fleet and asset management platform, entered new vertical sectors including local services, transportation, construction, cold chain, mining, and oil and gas, and opened new geographic markets including Mexico, Italy, China and Taiwan.
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Navman Wireless' technology currently monitors more than 175,000 vehicles and assets owned by over 14,000 organizations worldwide, making the company one of the largest fleet and asset management providers in the world. The OnlineAVL2 system enables fleet and asset managers to track all vehicle and asset locations in real time as well as control fuel, labor and vehicle/asset operating costs. Innovations include the ability to manage both on- and off- highway vehicles, an advanced workflow forms engine, and third-party systems integration.
"Danaher has the resources, global footprint and commitment to support the continued growth of the Navman Wireless platform and business, along with a strong track record of building brands within its highly diversified portfolio," said TJ Chung, president of Navman Wireless. "All of these factors will help us continue to enhance our technology platform, expand into new vertical and geographic markets, and bring the benefits of fleet and asset management to vehicles and assets around the world that are not yet taking advantage of the technology."
Navman Wireless is Danaher's first acquisition in the fleet/asset management space, joining Danaher's portfolio of premier brands spanning test & measurement, life sciences & diagnostics, dental, environmental and industrial technologies.