Navman Wireless and Teletrac – major operators in the GPS fleet and asset tracking market - have merged to create one of the world's largest global telematics companies.
The combined company will be run by an executive management team selected from both Teletrac and Navman Wireless.
TJ Chung, Navman Wireless president and chief executive officer, will lead the joint company.
The company will continue to operate under both the Navman Wireless and Teletrac brands and fully support all current customers and platforms in its ongoing goal to drive the industry forward.
Chung said: "It became clear in our race to being the predominant global GPS fleet and asset tracking solution, that the leverage of combining Navman Wireless and Teletrac was in the clear best interest of both companies' current and future customers.
“We realised that both companies were highly synergistic and we had the opportunity to leap forward by partnering strength on strength.”
The combined resources of Navman Wireless and Teletrac will expand the company to a more geographically diverse market, with offices in the UK, Australia, New Zealand, Mexico and the United States.
"We believe more and more companies will want to partner with a global leader that holds a strong track record of customer success," Chung added.
The consolidated engineering teams of Navman Wireless and Teletrac will create an industry-leading R&D budget, paving the way for future innovation.
"We expect that both Navman Wireless and Teletrac customers will be able to leverage a greatly enhanced feature set in the coming years as a result of this combination and our future customers will see the added benefit of leveraging innovations from two leading companies," nsaid Mike Jarvinen, VP of marketing for the joint company.
The joint company's technology currently tracks more than 500,000 vehicles owned by over 40,000 organisations on five continents, making it one of the world's largest fleet management providers.