Deal supports strategy of unifying fragmented technologies for increasingly decentralized transportation industry, Omnitracs says.
Telematics technology vendor Omnitracs LLC is continuing to grow by absorbing other supply chain technology firms, saying Monday that it has acquired VisTracks, a provider of compliance solutions for the transportation and logistics industry.
Terms of the deal were not disclosed.
The move is intended to extend Omnitracs’ reach into the small and medium business (SMB) market by adding the VisTracks reseller community into the Omnitracs partner network, Dallas, Texas-based Omnitracs said.
According to the company, another impact of the deal could be to build on the Omnitracs One platform vision and to further enhance the company’s device-agnostic hardware strategy. Omnitracs in 2018 launched an upgrade to its fleet management system software—known as Omnitracs One—that offers a single, cloud-based platform supporting a variety of functions for both long-haul and last-mile operations.
Through the acquisition, Omnitracs will add approximately 60,000 vehicles onto the Omnitracs One platform and will increase the number of supported telematics devices by over 30. The Omnitracs One platform was designed for interoperability and ease-of-use, ensuring customers have access to a library of capabilities. The firm says that is significant because many fleets are already committed to their original equipment manufacturer (OEM), and are looking for flexible solutions that can leverage their existing hardware and software products.
“The transportation industry is in the midst of an era of decentralization, and as technology providers, we must be diligent in providing access to enterprise-grade solutions that unify fragmented technology,” Ray Greer, CEO of Omnitracs, said in a release.
Buying VisTracks marks Omnitracs’ latest move to grow by acquisition, adding to names it has added over the past decade such as FleetRisk Advisors, Sylectus, Shaw Trucking, Roadnet Technologies, and XRS Corp., Greer said in a blog post.
The VisTracks architecture provides a lightweight, mobile device-based and cloud-enabled solution, which will allow Omnitracs to quickly go-to-market with OEM-integrated solutions. Omnitracs is preparing to release early versions of the integrated software in late 2020.
“Omnitracs is setting the industry standard for developing driver-first technology and creating seamless integration opportunities that benefit their customers,” VisTracks President and CEO Stephen G. Eick said in a release. “By uniting with Omnitracs, we can provide a more robust offering to a broader audience of fleets and drivers while continuing to drive innovation throughout the transportation industry.”
Original Source: https://www.dcvelocity.com/articles/46006-omnitracs-acquires-vistracks-to-expand-reach-into-telematics-smb-market