Telit Wireless (News - Alert) Solutions, a machine-to-machine (M2M) wireless technology company, has entered into a binding agreement to purchase Navman Wireless OEM Solutions, designer and manufacturer of GPS modules and solutions for $3 million in cash.
The OEM Solutions business, with twelve employees, is located in Foothills Ranch, CA (News - Alert), and focuses purely on sale of GPS modules. The transaction enables Navman Wireless to concentrate on its rapidly growing fleet tracking management business, which currently represents over 90 percent of the company’s revenues.
Navman Wireless OnlineAVL2 fleet tracking and asset management platform helps fleets around the world monitor vehicle and asset location in real time as well as reduce fuel, labor, and vehicle operating costs. System maps and reports, delivered under the Software-as-a-Service model, assist in fleet management by pinpointing problems such as idling, inaccurate and unauthorized stops and personal vehicle usage. It also improves dispatching efficiencies while optimizing maintenance schedules... Read More
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