Acquisition Will Expand Smaller Transportation Fleets’ Access to Advanced Logistics Applications and Services.
Qualcomm Incorporated (NASDAQ: QCOM), a leading provider of integrated wireless systems, services and applications to transportation and logistics companies, announced that, through its subsidiary Qualcomm Canada, Inc., it has acquired the holding company of GPSNet Technologies, Inc. which operates Sylectus, a provider of advanced fleet management software for smaller transportation companies.
Qualcomm intends to continue to operate the business in the U.S. and Canada under the name Sylectus.
With this acquisition, Qualcomm will simplify the process of adopting advanced fleet management services for smaller fleets, allowing them to meet the increasingly rigorous safety and compliance standards and also leverage many of the additional benefits commonly available in the transportation industry.
“Qualcomm believes that smaller fleets have unique challenges and needs as the industry evolves with the recent regulatory changes and other pressures impacting all commercial fleets,” noted John Sarto, senior vice president of business and product development for Qualcomm Enterprise Services. “With this acquisition, we believe we can help Sylectus expand its capacity to deliver cost effective, valuable applications through Software-as-a-Service, to smaller fleets.”
Since 2001, Qualcomm and Sylectus have collaborated to integrate data and information from Qualcomm’s mobile information and computing platforms to Sylectus’ dispatch software. The two companies most recently completed the integration of Qualcomm Hours of Service to Sylectus’ dispatch software.
“We could not be more excited about becoming part of Qualcomm’s industry-leading transportation services business,” stated Stuart Sutton, CEO of Sylectus. “We are confident that this will enable us to expand our ability to deliver valuable applications and services, meeting the unique needs of smaller fleets and helping them grow in a profitable and efficient manner.”
Sylectus will operate as a stand-alone business unit within Qualcomm Enterprise Services, and it will continue to develop and deliver advanced fleet management software for smaller transportation companies. Stuart Sutton will continue to serve as the head of Sylectus and the business unit will remain in Ontario, Canada.
Financial terms of the acquisition were not disclosed.
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