
Continental on Dec. 3 announced the sale of Zonar, a smart fleet management provider, to GPS Trackit, an industry pioneer in cloud-based, IoT fleet solutions and GPS tracking. Details of the transaction, including financial terms, are not being disclosed.
The deal follows Continental’s Group Sector Automotive strategy, announced last year, centered around focusing on its core strengths and streamlining its business operations.
“The decision to sell Zonar is part of our broader automotive strategy to sharpen our focus and enhance our fundamental strengths,” said Philipp von Hirschheydt, Member of the Executive Board and Head of Automotive.
Zonar, founded in 2001, is headquartered in Seattle, Wash., and provides smart mobility solutions throughout vocational, pupil, mass transit, and commercial trucking industries.
“We are thrilled to welcome Zonar to the GPS Trackit family,” said Charles Kriete, CEO, GPS Trac. “By combining our strengths, such as our best-in-class video platform, with Zonar’s advanced technologies and industry expertise, we are poised to create unparalleled value for our customers and further disrupt the market as two industry leaders in overall customer satisfaction. We look forward to building on the Zonar legacy of excellence and driving transformative growth together.”