FleetMatics, a privately-funded software-as-a-service company focused on GPS vehicle tracking, has merged with SageQuest, a provider of GPS vehicle management solutions.
FleetMatics agreed to acquire 100 percent of the outstanding shares of SageQuest, creating a combined new entity. The terms of the transaction were not disclosed.
"We are excited about the prospects of growth through our combined efforts," said Dennis Abrahams, president of SageQuest. "We now have the scale and financial stability to expand our reach into the commercial fleet market. We will be able to offer new customers the best solutions available anywhere, while providing our existing customers the exceptional products and support they have come to expect."
Abrahams will continue as president of SageQuest and report directly to Jim Travers, CEO of FleetMatics.
"The market for GPS tracking continues to evolve and mature at an intense pace and a number of market leaders are starting to emerge," said Clem Driscoll of C.J. Driscoll & Associates. The mobile resource management (MRM) market is still underpenetrated and the industry is going to experience serious growth over the next several years."
FleetMatics agreed to acquire 100 percent of the outstanding shares of SageQuest, creating a combined new entity. The terms of the transaction were not disclosed.
"We are excited about the prospects of growth through our combined efforts," said Dennis Abrahams, president of SageQuest. "We now have the scale and financial stability to expand our reach into the commercial fleet market. We will be able to offer new customers the best solutions available anywhere, while providing our existing customers the exceptional products and support they have come to expect."
Abrahams will continue as president of SageQuest and report directly to Jim Travers, CEO of FleetMatics.
"The market for GPS tracking continues to evolve and mature at an intense pace and a number of market leaders are starting to emerge," said Clem Driscoll of C.J. Driscoll & Associates. The mobile resource management (MRM) market is still underpenetrated and the industry is going to experience serious growth over the next several years."
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