Navman Wireless and Teletrac Inc. are merging together, with the combined company expected to be run by a joint executive management team, though T.J. Chung – Navman’s president – will lead the new firm.
The newly-combined company will continue to operate under both the Navman and Teletrac brands and fully support all current customers and platforms in its ongoing goal to drive the industry forward, Chung stressed in a statement.
"It became clear in our race to being the predominant global GPS fleet and asset tracking solution, that the leverage of combining Navman and Teletrac was in the clear best interest of both companies' current and future customers,” he noted. “We realized that both companies were highly synergistic and we had the opportunity to leap forward by partnering strength on strength.”
The combined resources of Navman and Teletrac will help the newly-merged firm to expand across a more geographically diverse market, with offices across the globe in multiple continents, added Mike Jarvinen, VP-marketing for the joint company.
"We expect that both Navman and Teletrac customers will be able to greatly leverage the enhanced feature set in the coming years as a result of this combination,” he said. “Further, our future customers will see the added benefit of leveraging innovations from two leading companies."
Jarvinen pointed out that the technology currently offered by both Navman and Teletrac currently tracks more than 500,000 vehicles owned by over 40,000 organizations on five continents.
