Continental announced the sale of Zonar, a leading 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.
This deal follows Continental’s Group Sector Automotive strategy, announced last year, centered around its core strengths and streamlining its business operations.
Zonar, launched in 2001, is headquartered in Seattle, Washington, and has more than 300 employees. It has pioneered smart mobility solutions throughout the vocational, pupil, mass transit, and commercial trucking industries. Zonar’s goal is to enhance its customers’ safety, performance, and success with actionable, innovative, and AI-enabled insights.
Continental develops technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the company’s technology offers safe, efficient, intelligent, and affordable solutions for vehicles, machines, traffic, and transportation. Last year, Continental generated sales of €41.4 billion and currently employs around 200,000 people in 56 countries and markets.
KEY QUOTES:
“The decision to sell Zonar is part of our broader automotive strategy to sharpen our focus and enhance our fundamental strengths. As the market continues to evolve, our focus on value creation is the cornerstone of our strategic efforts. Continental is committed to leveraging innovation and operational excellence to strengthen its position in the marketplace by further investing in its core competencies to prioritize its growth.”
- Philipp von Hirschheydt, Member of the Executive Board and Head of Automotive
“We are thrilled to welcome Zonar to the GPS Trackit family. This acquisition represents a significant step forward in our mission to deliver innovative, customer-focused fleet management solutions. 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.”
- Charles Kriete, CEO, GPS Trackit
