Navman Wireless, a provider of fleet and asset management technology, announced its acquisition by Danaher Corporation, a Fortune 250 science and technology company. Navman Wireless’ technology currently monitors more than 175,000 vehicles and assets owned by over 14,000 organizations worldwide.
The OnlineAVL2 system, delivered under the Software-as-a-Service (SaaS) model, 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.
Navman Wireless reports it has had five successive years of revenue and installed base growth during which the company 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.
“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 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 spanning test and measurement, life sciences and diagnostics, dental, environmental and industrial technologies. Financial details of the transaction were not disclosed.