SAN FRANCISCO — (BUSINESS WIRE) — August 2, 2013 — Vector Capital has sold Teletrac® Inc., a leading GPS tracking and fleet management software company, to Danaher Corporation. Teletrac provides a comprehensive cloud-based software as a service (SaaS) platform to fleet operators. Teletracs global network tracks more than 200,000 vehicles across 87 countries allowing fleet owners and managers to drive operational efficiency across their fleets.
Commenting on the transaction, Tony Eales, CEO of Teletrac, said: "Teletrac has established itself as the market leader in GPS tracking and fleet management software. Vector Capital has been a great partner in transforming Teletrac into a world class SaaS business through thoughtful investments to accelerate our product roadmap and go-to-market platform. As we look forward, Danaher is an ideal partner for our next phase of growth and for the long-term. We will enjoy the support of a global organization with a long track record of building market leading and operationally excellent brands. We believe this transaction will benefit our employees and customers, and will allow us to continue our long-term focus on service enhancement, innovative product development, and expanded market reach.
David Fishman, a Managing Director at Vector Capital, agreed, "We have had a very successful investment in Teletrac and partnership with the management team. We are pleased to have selected a buyer for Teletrac that will continue to invest in the company, its employees, and its products to further grow the business. Teletrac is the most recent example in Vector's long history of partnering with management to realize significant value by growing and significantly transforming technology companies."
About Teletrac Inc.
Teletrac is a leading fleet management software company headquartered in Southern California. Providing a comprehensive cloud-based SaaS platform, Teletrac currently helps automate more than 200,000 vehicles across 87 countries in all industries. With over 500 global employees, Teletrac focuses on providing advanced GPS asset location, diagnostics, fuel efficiency, safety, compliance, scorecarding and business intelligence in a single powerful web interface. Learn more at www.teletrac.com.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. Vector identifies and pursues these complex investments in both the private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers and shareholders. Among Vector's notable investments are Aladdin Knowledge Systems, Cambium Networks, Certara, Corel, Gerber Technologies, RAE Systems, Register.com, SafeNet, Technicolor, Tidel, WatchGuard Technologies, and WinZip.