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Danaher Corp. (NYSE: DHR), Washington, DC, has acquired Navman Wireless, Glenview, IL, from Prairie Capital. Navman Wireless, a provider of advanced fleet and asset management technology, will function as a standalone Danaher operating company, retaining the Navman Wireless brand as well as its personnel and locations.
Financial details of the transaction were not disclosed.
"Danaher has the resources, global footprint and commitment to support the continued growth of the Navman Wireless platform and business, along with a strong track record of building brands within its highly diversified portfolio," said TJ Chung, president of Navman Wireless. "All of these factors will help us continue to enhance our technology platform, expand into new vertical and geographic markets, and bring the benefits of fleet and asset management to vehicles and assets around the world that are not yet taking advantage of the technology."
Navman Wireless is Danaher's first acquisition in the fleet/asset management space, joining Danaher's portfolio of spanning test & measurement, life sciences & diagnostics, dental, environmental and industrial technologies.