Dublin, Ireland; Solon, OH (Vocus) August 24, 2010
FleetMatics and SageQuest today announced the completion of a merger agreement to create the fastest growing, global software-as-a-service (SaaS) company for vehicle management solutions. FleetMatics agreed to acquire 100 percent of the outstanding shares of SageQuest, creating a combined new entity. The terms of the transaction were not disclosed.
“With this acquisition of SageQuest, FleetMatics will extend our ability to deliver the best-in-class products and services to fleets of all sizes. It is the strength of our combined products and services, as well as our reputation as superior service providers that compelled this combination to happen,” explained Jim Travers, CEO of FleetMatics. “Together we possess an unmatched set of products and services. We are now in a stronger position to capture market share faster than our competitors and accomplish our goal of being the leading global software-as-a-service (SaaS) provider of vehicle management solutions.”
“We are excited about the prospects of growth through our combined efforts. While both organizations have had successful records of performance, this merger positions us as the clear market leader,” said Dennis Abrahams, President of SageQuest. “We now have the scale and financial stability to expand our reach into the commercial fleet market. We will be able to offer new customers the best solutions available anywhere, while providing our existing customers the exceptional products and support they have come to expect.” It is reported that Abrahams will continue as President of SageQuest and report directly to Jim Travers.
“The market for GPS tracking continues to evolve and mature at an intense pace and a number of market leaders are starting to emerge. The mobile resource management (MRM) market is still underpenetrated and the industry is going to experience serious growth over the next several years,” stated Clem Driscoll of C.J. Driscoll & Associates. Driscoll added, “These two companies have each established themselves as leading competitors in their respective market segments. The combined company possesses an impressive team, which has deployed solutions that have become well accepted by both large and small fleets.”
FleetMatics is a rapidly growing, privately-funded software-as-a-service (SaaS) company focused on GPS vehicle tracking. FleetMatics’ comprehensive software offerings are designed for businesses of all sizes that focus on improving customer service, real-time operations visibility and maximum performance from their vehicles and service representatives.
The FleetMatics fleet management system offerings include: GPS-based fleet tracking software, a command center dashboard for real-time fleet monitoring over the internet or on a mobile device, comprehensive and easy-to-use management reports and the industry’s only Panoramic Reporting that allows executives to see how they have improved their fleet performance over time.
FleetMatics handles all the technology issues so customers focus strictly on their business to realize a rapid and ongoing ROI that includes increased revenue, reduced costs, and ability to grow profitably. For more information, visit http://www.fleetmatics.com or call 866.844.2235.
SageQuest LLC provides proven GPS vehicle management solutions that improve the efficiency and productivity of mobile workers for utility, cable and broadband companies throughout North America. SageQuest’s Mobile Control complements workforce management tools to provide real-time insight into technician and vehicle activity, providing actionable decision-making information for dispatchers, supervisors and executives. Mobile Control is a software-as-a-service (SaaS) solution which helps customers minimize their upfront capital investment. For more information about SageQuest, visit http://www.sage-quest.com or call 888.837.7243.
Brendan Sullivan, Vice President, Global Marketing
Jonathan Durkee, Vice President, Product Management and Sales