Vista Equity Partners LLC announced it has completed its acquisition of Omnitracs Inc., formerly a subsidiary of Qualcomm Inc. In conjunction with this announcement, Omnitracs announced that it has signed a definitive agreement to acquire Roadnet Technologies Inc., a provider of fleet management software solutions for private fleets.
Roadnet, based in Baltimore, Maryland, is a provider of routing, scheduling, optimization and mobile resource management software solutions in the U.S. and internationally. Roadnet's fleet management platform enables its customers to solve complex transportation problems in a simple manner.
Roadnet will continue to operate independently as a separate division within Omnitracs.
The combined company will offer a portfolio of data-driven software, information and analytic solutions focused on (i) driver safety, compliance and productivity, (ii) operator planning, routing and resource management, and (iii) vehicle management, maintenance and fuel efficiency.
Omnitracs is also announcing the appointment of John Graham as the CEO and Jordan Copland as the CFO of the newly combined stand-alone organization. Graham is joining from Intergraph Corp., where he has served as president of the Security, Government and Infrastructure Division.
Prior to this, he held senior level positions at UGS, now Siemens PLM, as well as other leading technology companies, both public and private. Graham is also a former Naval Officer.
Copland brings 13 years of strategic financial leadership experience including CFO roles at Harbor Freight Tools and GSI Commerce. Jordan also held a number of senior finance and business development positions during his nine year tenure at the Walt Disney Company.
Together, Omnitracs and Roadnet will serve nearly 3,800 customers with more than 500,000 vehicles, in over 60 different countries.
The closing of the Roadnet transaction is expected to be completed in December 2013 and is conditioned upon, among other things, clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions.
Evercore served as adviser to Vista Equity Partners on the acquisition of Omnitracs.