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(Zonar Systems Image)
German conglomerate Continental announced that it sold Zonar Systems, a Seattle-based company that provides electronic fleet inspection and tracking systems for public and private fleets, to GPS Trackit, another fleet management company.
Terms of the deal were not disclosed.
Zonar, founded in 2001, provides GPS and telematics hardware and software solutions for fleets across a variety of industries such as construction, transportation and the utility industry. The idea is to use hardware and software to help fleet operators save money on fuel, improve maintenance, and increase safety.
Zonar laid off 57 people in August, after Continental announced that it was considering spinning off its automotive business.
“The decision to sell Zonar is part of our broader automotive strategy to sharpen our focus and enhance our fundamental strengths,” Philipp von Hirschheydt, member of the executive board and head of automotive at Continental, said in a press release.
Continental acquired a majority stake in Zonar in 2016.
Zonar employs more than 300 people across North America.
Zonar CEO Michael Gould, a veteran of Oracle and Hewlett-Packard, joined the company last year.
We’ve followed up about any impacts to the company’s Seattle-area workforce as a result of the sale to GPS Trackit, a 22-year-old company based in Florida that is backed by a private equity firm called Inverness Graham.
