Friday, August 23, 2013
Qualcomm Sells Omnitracs To Vista Equity Partners For $800M
San Diego-based wireless communications developer Qualcomm is selling off Omnitracs, its North and Latin American transportation and logistics business, to private equity firm Vista Equity. According to Qualcomm, Vista Equity Partners will pay $800M in cash for Omnitracs, which provides commercial vehicle telematics services. Qualcomm said the deal includes all of Omnitracs' operations in the United States, Canada and Latin America, and also includes Sylectus and FleetRisk Advisors, which Omnitracs acquire in 2011. Qualcomm was advised by Barclays Capital in the deal.