Science and technology company, Danaher Corporation, has taken its first step into the fleet and asset management technology space with the acquisition of technology provider, Navman Wireless.
As part of the deal, Navman Wireless will function as a standalone Danaher operating company, retaining its brand, personnel, and locations.
Financial details were not disclosed.
The transaction follows a highly positive period for Navman. It had a record 2012, as well as five successive revenue years and installed base growth. In that period, it expanded its Online AVL2 fleet and asset management platform, entered new verticals, and opened geographic markets in Mexico, Italy, China, and Taiwan.
“Danaher has the resources, global footprint and commitment to support the continued growth of the Navman Wireless platform and business,” Navman Wireless president, TJ Chung, said.
“All of these factors will help us continue to enhance our technology platform, expand into new vertical and geographic markets, and bring the benefits of fleet and asset management to vehicles and assets around the world that are not just yet taking advantage of the technology.”
Navman Wireless joins Danaher’s portfolio of brands spanning test and measurement, life sciences and diagnostics, dental, environmental, and industrial technologies.Read more: Meet Woodside's newest employee: IBM's Watson