Monday, January 18, 2010

Fleet Management Solutions Acquired by Trafficmaster Plc

San Luis Obispo-based Fleet Management Solutions, a developer of GPS-based, satellite asset management services to enterprises for fleets and mobile assets, has been acquired. The deal was announced by UK-based Trafficmaster Plc Monday. Financial details of the acquisition were not disclosed. Fleet Management Solutions was founded in 2004. According to Jeff Wade, Vice President of Marketing at Fleet Management Solutions, the terms of the deal call for the company to stay in San Luis Obispo, with CEO Cliff Henley staying on for a minimum of two years. FMS has customers that include government, oil and gas, and other companies who use the firm's services for tracking assets in remote parts of the world.