Astrata Group, a fleet management business headquartered in Singapore, has announced the acquisition of Omnitracs Europe – formerly known as Qualcomm Enterprise Services Europe – from Qualcomm. Financials of the transaction, were not disclosed.
According to Johan Fagerberg, analyst with Berg Insight, Omnitracs “has an estimated 30,000-40,000 active units in Europe.“
"We are excited to significantly expand Astrata’s presence in Europe with the acquisition of Omnitracs Europe. With highly complementary geographic presences, the combined operations will truly have a global reach and in-house access to best-in-class technologies, enhancing our product and service offerings to our customers throughout the world," explained George M. Kappaz, Chairman and CEO of Astrata, and Chairman of CIH International Group, the private equity group that owns Astrata.
This acquisition follows with only a few months the transaction between Qualcomm and Vista Equity Partners for the American part of the Omnitracs business (read here).