Vontier sells Teletrac Navman stake to Respida Capital
Vontier will receive $80 million in cash and retain a minority stake in the fleet software unit, which is valued at $220 million
2 sources
Vontier has agreed to sell its stake in Teletrac Navman to Respida Capital, marking its exit from control of the fleet software unit. The transaction values the fleet software business at USD $220 million.[1][2]
Under the terms of the agreement, Vontier will book USD $80 million in cash. Despite giving up control of the unit, Vontier will continue to hold a minority stake in Teletrac Navman.[1][2]
