Vista Equity Partners to acquire Omnitracs
Aug 23, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
Vista Equity Partners, a private equity firm, has signed a definitive agreement to acquire Omnitracs, Inc., a provider of integrated wireless systems, software applications and services, from Qualcomm Incorporated for $800 million in cash. All the entities are based in the US.
Qualcomm is a developer, designer, and manufacturer of digital wireless telecommunications products and services.
The acquisition will include all of Omnitracs operations in the US, Canada and Latin America, including Sylectus and FleetRisk Advisors.
Barclays Capital Inc. is acting as financial advisor to Qualcomm.
The acquisition is expected to be completed during the first quarter of fiscal year 2014.
Deal Value (US$ Million) 800
Deal Type Private Equity
Deal Status Announced: 2013-08-23
Target (Company) Omnitracs, Inc.
Vendor (Company) Qualcomm Incorporated
The transaction will enable Omnitracs to strengthen and expand its product offerings.
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