Qualcomm today announced that it will sell Omnitracs, a subsidiary of Qualcomm, to Vista Equity Partners, a U.S.-based private equity firm for $800 million in cash.
Qualcomm developed CDMA technology to reduce the effects of interference. Qualcomm’s first products and services included the OmniTRACS satellite locating and messaging service, used by long-haul trucking companies
Qualcomm pioneered the use of commercial vehicle telematics with the introduction of Omintracs, the first mobile information system for transportation and logistics. It was one of Qualcomm’s earliest businesses.
“Today, the opportunity for fleet management and telematics is evolving rapidly, and we believe Omnitracs is well positioned to continue its leadership position as a stand-alone entity,” said Derek Aberle, executive vice president and group president, Qualcomm Incorporated.