We are delighted to become a strategic investment of Francisco Partners. This transaction will help us build on our success as we pursue an aggressive growth strategy to provide our customers and distribution partners with market leading solutions
Atlanta, GA (PRWEB) January 6, 2010
Atlanta based Discrete Wireless, Inc., a leading provider of GPS fleet management and location intelligence solutions, and Francisco Partners, one of the world's largest global technology-focused private equity funds, announced today that Discrete Wireless has been acquired by Francisco Partners. The terms of the transaction were not disclosed.
"We are delighted to become a strategic investment of Francisco Partners. This transaction will help us build on our success as we pursue an aggressive growth strategy to provide our customers and distribution partners with market leading solutions," says Mike Scarbrough, CEO of Discrete Wireless. "Francisco Partners has a track record of fueling the growth of technology-focused companies and brings the level of expertise and support that will greatly benefit the partners and customers of Discrete Wireless."
Neil Garfinkel of Francisco Partners remarked on the transaction, "Francisco Partners is excited about the potential of Discrete Wireless. In reviewing potential investments in this space, Discrete impressed us with the depth and reliability of their MARCUS® solution; it is clearly an industry leading platform. We look forward to working with Mike and his team to support a long-term growth strategy that will help the company reach its full potential."
Organizations that successfully leverage location intelligence data have increased resource utilization and reduced operating costs. Discrete Wireless markets the MARCUS® GPS Fleet Management Application and MARCUS® 3G equipment directly and through a Nationwide Distribution Network.
About Discrete Wireless, Inc.
Discrete Wireless, Inc., established in 2000, provides GPS Fleet Management and Location Intelligence Solutions to more than 5,000 service and distribution businesses in the U.S. and Canada helping them dispatch, track, and manage the logistics, their vehicles, employees, and assets. Visit our website at http://www.discretewireless.com for more information.
About Francisco Partners
With nearly $5.0 billion of committed capital and offices in San Francisco and London, Francisco Partners is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational change. Francisco Partners targets majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2.0 billion. The principals of Francisco Partners have a proven track record, having invested approximately $4 billion of equity capital in over 50 technology companies. For additional information, visit http://www.franciscopartners.com.