Zonar will now operate as part of GPS Trackit.
GPS Trackit has acquired Zonar Systems Inc., which will operate as part of the GPS Trackit portfolio.
Continental, which bought a majority stake in Zonar in 2016, announced it’s selling the smart fleet management provider to GPS Trackit, a video and fleet telematics company offering cloud-based, Internet of Things fleet solutions and GPS tracking.
Details of the transaction, including financial terms, are not being disclosed.
The deal follows Continental’s Group Sector Automotive strategy, announced last year, centered around focusing on its core strengths and streamlining its business operations.
More About Zonar and GPS Trackit
Founded in 2001, Zonar provides fleet health and safety solutions. It received an HDT “Nifty Fifty” award in 2007 for its Electronic Vehicle Inspection Report System, which used a handheld tool to help drivers do better pretrip inspections.
The company moved into engine diagnostics, telematics, electronic logging devices, and other electronic fleet management products.
For instance, earlier this year, Zonar was awarded a California Air Resource Board executive order for Clean Truck Check on-board emissions diagnostic testing.
Together, the two companies will be able to offer a comprehensive platform that serves fleets of all sizes, delivering telematics and cloud-based solutions.
GPS Trackit is a portfolio company of Inverness Graham, a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry.
“By combining our strengths, such as our best-in-class video platform, with Zonar’s advanced technologies and industry expertise, we are poised to create unparalleled value for our customers and further disrupt the market as two industry leaders in overall customer satisfaction,” said GPS Trackit CEO Charles Kriete.
Zonar CEO Michael Gould called GPS Trackit “a pioneering force in cloud-based, IoT fleet solutions and GPS fleet tracking.
“The breadth of our technology solutions is highly complementary, and combining resources to rapidly accelerate innovation and growth makes perfect sense,” Gould said.
Headquartered in Seattle, Zonar also operates a distribution center in West Chicago.
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