Navman Wireless Acquired by Danaher Corporation
LONDON, January 29, 2013
LONDON, January 29, 2013 /PRNewswire/ --
Fleet/Asset Management Business Will Operate as a Standalone Danaher Operating
Company, Continuing to Expand Technology Platform & Retaining All Personnel &
Navman Wireless, a provider of advanced fleet and asset management technology
used to optimise business and government fleets as well as heavy equipment
operations, today announced its acquisition by Danaher Corporation (NYSE:
DHR), a Fortune 250 science and technology company. Navman Wireless will
function as a standalone Danaher operating company, retaining the Navman
Wireless brand as well as its personnel and locations.
The transaction follows a record 2012 for Navman Wireless and five successive
years of revenue and installed base growth during which the company has
dramatically expanded its OnlineAVL2 fleet and asset management platform,
entered new vertical sectors including local services, transportation,
construction, cold chain, mining, and oil and gas, and opened new geographic
markets including Mexico, Italy, China and Taiwan.
Navman Wireless' technology currently monitors more than 175,000 vehicles and
assets owned by over 14,000 organisations worldwide, making the company one of
the largest fleet and asset management providers in the world. The OnlineAVL2
system, delivered under the Software-as-a-Service (SaaS) model, enables fleet
and asset managers to track all vehicle and asset locations in real time as
well as control fuel, labour and vehicle/asset operating costs. Innovations
include the ability to manage both on- and off- highway vehicles, an advanced
workflow forms engine, and third-party systems integration.
"Danaher has the resources, global footprint and commitment to support the
continued growth of the Navman Wireless platform and business, along with a
strong track record of building brands within its highly diversified
portfolio," said TJ Chung, President of Navman Wireless. "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 yet taking
advantage of the technology."
Navman Wireless is Danaher's first acquisition in the fleet/asset management
space, joining Danaher's portfolio of premier brands spanning test &
measurement, life sciences & diagnostics, dental, environmental and industrial
technologies. Financial details of the transaction were not disclosed.
About Navman Wireless
Navman Wireless is a global leader in GPS-based fleet optimisation products
and services, including real-time vehicle tracking and analytics that enable
companies to monitor, measure and improve fleet-related costs and
efficiencies. The company's technology currently monitors more than 175,000
vehicles owned by over 14,000 organisations on five continents, making Navman
Wireless one of the world's largest fleet management providers. An operating
company of Danaher Corporation, Navman Wireless is based in Glenview, IL, with
facilities in the U.S., Mexico, UK, Italy, Taiwan, Ireland, China, New Zealand
and Australia. For more information, visit http://www.navmanwireless.com .
Danaher is a science and technology leader that designs, manufactures, and
markets innovative products and services to professional, medical, industrial,
and commercial customers. Our premier brands are among the most highly
recognised in each of the markets we serve. The Danaher Business System
provides a foundation to our 59,000 associates around the world, serving
customers in more than 125 countries. In 2011, we generated $16.1 billion of
revenue. For more information please visit our website: http://www.danaher.com
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