Omnitracs Acquired, Signs Deal to Buy Thoma Bravo's Roadnet
November 26, 2013
Vista Equity Partners has completed its acquisition of Omnitracs, a former subsidiary of Qualcomm (NASDAQ: QCOM), for $800 million in cash. In conjunction with the closing, Omnitracs has announced an agreement to buy Roadnet Technologies, a fleet management software company, from its PE sponsor Thoma Bravo. Additionally, John Graham has been appointed as the new CEO of Omnitracs, which provides fleet management software applications, information services and hardware platforms.
Roadnet has been backed by Thoma Bravo since December 2010, when the firm carved out the Logistics Technologies business of UPS (NYSE: UPS).