Automotive & Transportation
Automotive and Transportation
Automotive and Transportation
Fri, December 6, 2024
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Continental offloads Zonar Systems to GPS Trackit
- German automotive parts manufacturer Continental has divested Zonar Systems, a US-based smart fleet management provider, to GPS Trackit.
Continental AG has sold its telematics business, Zonar Systems, to GPS Trackit, a company known for its fleet management solutions. This transaction, which was completed on June 1, 2023, aims to enhance GPS Trackit's capabilities in fleet management by integrating Zonar's technology, which includes electronic logging devices (ELDs), GPS tracking, and other telematics solutions. The sale allows Continental to streamline its portfolio, focusing on its core competencies while providing Zonar with an opportunity to expand its market presence under GPS Trackit's umbrella. The financial details of the deal were not disclosed, but the move is seen as strategic for both companies to leverage their respective strengths in the growing telematics market.
Read the Full Just Auto Article at:
[ https://www.just-auto.com/news/continental-zonar-sale-gps-trackit/ ]
Read the Full Just Auto Article at:
[ https://www.just-auto.com/news/continental-zonar-sale-gps-trackit/ ]
