Omnitracs LLC, a San Diego-based fleet management company owned by Vista Equity Partners, has agreed to acquire XRS Corp. (Nasdaq: XRSC), an Eden Prairie, Minn.–based provider of mobile fleet optimization software, for $178 million in equity ($5.60 per share, which represents an 85.4% premium over last Friday’s closing price).
This brings Vista's investment in the mobile telematics space to over $1 billion, including their recent $200 million purchase of RoadNet and the original $800 million purchase of Omnitrac.
Mobile telematics is a hot space in supply chain, with companies trying to compete with Amazon for same/next day delivery of all types of products. Fleet management is a key component of making that happen.
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