Teletrac, Navman Wireless to merge

The GPS fleet and asset-tracking companies will combine to create a global telematics business.

GPS fleet and asset-tracking technology developers Navman Wireless and Teletrac, which have shared a common owner since 2013, are now merging.

The companies deliver real-time vehicle tracking and analytics to monitor, measure, and improve the efficiency of more than 500,000 vehicles owned by over 40,000 organisations worldwide, they said in a statement.

Headquartered in Glenview, Illinois, the combined company now has offices in California, Texas, Mexico, the United Kingdom, New Zealand, and Australia.

Both companies were founded in 1988, and both offer software-as-a-service (SaaS) solutions. Both are also, since 2013, operating companies of New York-listed Danaher Corporation.

TJ Chung, president and chief executive officer of Navman Wireless, will lead the joint company, which will continue to operate under both the Navman Wireless and Teletrac brands. The future executive team will be selected from both companies.

"It became clear in our race to being the predominant global GPS fleet and asset-tracking solution that the leverage of combining Navman Wireless and Teletrac was in the clear best interest of both companies' current and future customers," Chung said.

"With the strength of a combined research and development capability, budgets, and a world-class engineering team, we will be paving the way for future innovation."