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SmartDrive Systems, a San Diego maker of in-cab video technology to boost safety and productivity for commercial truck drivers, is being acquired by Omnitracs, a much larger fleet telematics outfit that also has roots in San Diego.The purchase price was not disclosed. The move combines SmartDrive’s video safety and driver analytics expertise with Omnitracs’ core strengths in routing, tracking, dispatch and regulatory compliance.“This is a strategic acquisition for Omnitracs,” said Steve Mitgang, chief executive of SmartDrive Systems. “We’re going after complimentary markets, and the markets we are serving are high growth. For me, this looks like the right combination to make a play for No. 1 in the market.”Once part of Qualcomm, Omnitracs’s fleet tracking business provided the early cash flow that funded research into new cellular technologies that Qualcomm is known for today.
Qualcomm is selling its Omnitracs fleet management business to a private equity firm( / Qualcomm)
In 2013, Qualcomm sold Omnitracs to private equity firm Vista Equity Partners for $800 million. After the transaction, Vista Equity moved Omnitracs’ headquarters to Dallas.But Omnitracs still employs about 60 workers in the San Diego region, said Mitgang. It plans to relocate those employees to SmartDrive’s 160-person …
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