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Snap-on Inc. (NYSE: SNA), Kenosha, Wisconsin, has acquired Cognitran Limited, Chelmsford, United Kingdom, for approximately $31 million in cash.
Cognitran specializes in flexible, modular and highly scalable “Software as a Service” products for original equipment manufacturer customers and their dealers, focused on the creation and delivery of service, diagnostics, parts and repair information to the OEM dealers and connected vehicle platforms.
Cognitran will be part of the company’s Repair Systems & Information Group. The acquisition enhances and expands Snap‑on’s capabilities in providing shop efficiency solutions through integrated upstream services to OEM customers in automotive, heavy duty, agricultural and recreational applications.
In July, Snap-On reported second quarter sales that were down slightly over 2018.