Jun 24 2015
SkyBitz®, the leader in remote asset tracking and information management solutions, today announced that it has entered into a definitive agreement to acquire Reltima and GPS North America, two leading commercial telematics companies in the local fleet management market.
Reltima, headquartered in Woburn, MA, provides comprehensive and cost effective solutions for GPS fleet tracking and fleet performance optimization aimed at light duty vehicle fleets. GPS North America, located in Langhorne, PA, is Reltima’s largest distribution partner.
“By bringing Reltima and GPS North America together, we will be able to rapidly expand our footprint in the growing commercial telematics market,” said Doug Milner, CEO, Telular Corporation. “The acquisition of these two successful organizations is a natural extension of the overall Telular mission to deliver innovative telematics solutions that enable our customers to dramatically lower their cost of operations and improve productivity.”
Reltima offers a wide variety of GPS fleet management tools for sale through its Master Dealer network located throughout North America. Its flagship Smart Antenna product is a highly accurate, in-cab GPS fleet tracking device. When paired with Reltima’s Perigee customer portal, Smart Antenna provides a wide variety of location based services, driver/vehicle performance data, route management and cargo status tracking to allow fleet managers to optimize their fleet performance and significantly reduce fleet operating costs.
"The combination of Reltima and our largest distribution partner, GPS North America, with SkyBitz represents an excellent strategic fit, bringing together the complementary strengths of our rich portfolios and robust go-to-market channels," said Andrew Petrov, CEO of Reltima. “This new relationship will give our dealers the power to leverage the strong and well-respected SkyBitz brand name against the larger competitors we face in the market today.”
GPS North America offers a full complement of fleet management solutions including asset tracking, hours-of-service (HOS) compliance, vehicle/driver dispatch and fleet reporting all under the SignalTrack brand.
“We are excited to join the SkyBitz family, a company that shares our dedication to making sure our valued customers always have access to the best technology for tracking and monitoring their fleets,” said Todd Lewis, President, GPS North America. “Becoming a part of SkyBitz will enable us to take our services to the next level, while maintaining the personal touch our customers have come to expect.”
Subject to the completion of customary conditions, the acquisition is expected to close on or around July 8, 2015. Reltima and GPS North America were advised by Media Venture Partners (MVP), an investment banking firm serving companies in the communications, technology and media sectors. Avista Capital Partners and Telular were advised by Kirkland & Ellis LLP.
Source: http://www.skybitz.com/