Penske Logistics has signed a software license deal with XATA Corp. for its new XataNet software application suite. Penske said it will equip a portion of its fleet with the software to automate driver logs, monitor state line crossings and calculate fuel tax.
The deal with Reading, PA-based Penske comes at a critical time for XATA, which continues to lose money despite nearly doubling its revenues recently. It posted a net loss of $371,000 on net sales of $4.3 million for its first fiscal quarter of 2002, which ended Dec. 31, compared to a net loss of $376,000 on net sales of $2.4 million in the first quarter of its fiscal 2001.
Minneapolis-based XATA recently reorganized its management team, with company founder William Flies replacing Dick Bogen as chairman. Flies will also serve as CTO, with Craig Fawcett taking over as president and CEO. Fawcett comes from equipment manufacturing giant Deere & Company, which owns a 31% stake in XATA.
