Continental sells Seattle-based fleet management software company Zonar Systems
Continental announces sale Zonar Systemsis a Seattle-based company that provides electronic fleet inspection and tracking systems for public and private fleets, GPS trackeranother fleet management company.
Terms of the deal were not disclosed.
Founded in 2001, Zonar provides GPS and remote information processing hardware and software solutions to fleets in a variety of industries including construction, transportation and utilities. The idea is to use hardware and software to help fleet operators save fuel costs, improve maintenance and increase safety.
Zonar laid off Continental announced 57 people in AugustConsider spinning off the automotive business.
“The decision to sell Zonar is part of our broader automotive strategy and aims to strengthen our focus and strengthen our fundamental strengths,” Philipp von Hirschheydt, member of Continental’s executive board and head of its automotive business, said in a statement. Press release.
Continental AirlinesAcquired a majority stake in Zonar in 2016.
Zonar has more than 300 employees in North America. A spokesman said the acquisition would have no direct impact on employees.
Michael GouldThe Oracle and HP veteran was named Zonar’s president and CEO last year.
Founded in 2002, GPS Trackit is headquartered in Florida and is backed by a private equity firm called Inverness Graham.
Story updated with details of workforce impact.
2024-12-03 20:26:41