Vontier Corporation (NYSE:VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, today announced a definitive agreement to sell a majority of Teletrac Navman, its global telematics and asset management business to private equity firm, Respida Capital, for a purchase price that values the business at $220 million. Vontier will receive $80 million in cash, with the remainder comprised of an interest-bearing seller note and a minority equity stake in the business.
"This transaction reflects our ongoing portfolio simplification efforts and continues Vontier's transformation into a more focused industrial technology company," said Mark Morelli, CEO of Vontier. "While this sale marks the end of the business's journey with Vontier, we are confident Teletrac will continue to thrive within Respida's portfolio. We are grateful to the team for their dedication to the business, and wish our colleagues continued success under its new leadership."
"We're excited to partner with Teletrac and build on its strong momentum," said James Zubok, Founder and Managing Member of Respida Capital. "Teletrac plays a mission-critical role for fleets and field operations around the world. The company's broad suite of fleet management solutions, which are built on a modern, AI-enabled platform, help customers make real-time decisions and simplify regulatory complexity. We look forward to leveraging our technology expertise to help Teletrac's talented team accelerate growth and continue delivering for customers."
Serving fleet customers across several industries, Teletrac Navman is an end-to-end telematics platform that provides AI-enabled vehicle fleet and asset management solutions – empowering customers to operate their businesses in a safe, sustainable and efficient manner.
Financial results for the business are currently reported within the Mobility Technologies segment of Vontier and will be excluded from continuing operations as of the completion date expected in late Q2.
ABOUT VONTIER
Vontier (NYSE:VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier powers the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company's website at www.vontier.com.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to statements regarding Vontier Corporation's (the "Company's") business and acquisition opportunities, anticipated sales growth, anticipated adjusted operating margin expansion, anticipated adjusted net earnings per share, anticipated adjusted cash flow conversion, and anticipated earnings growth, and any other statements identified by their use of words like "anticipate," "expect," "believe," "outlook," "guidance," or "will" or other words of similar meaning. There are a number of important risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These risks and uncertainties include, among other things, deterioration of or instability in the economy, the markets we serve, changes in U.S. and international geopolitics, including trade policies, volatility in financial markets, contractions or lower growth rates and cyclicality of markets we serve, competition, changes in industry standards and governmental policies and regulations that may adversely impact demand for our products or our costs, our ability to successfully identify, consummate, integrate and realize the anticipated value of appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to develop and successfully market new products, software, and services and expand into new markets, the potential for improper conduct by our employees, agents or business partners, impact of divestitures, contingent liabilities relating to acquisitions and divestitures, impact of changes to tax laws, our compliance with changes in applicable laws and regulations, risks relating to global economic, political, war or hostility, public health, legal, compliance and business factors, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, the impact of our debt obligations on our operations, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, our ability to adequately protect our intellectual property rights, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, our relationships with and the performance of our channel partners, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, security breaches or other disruptions of our information technology systems, adverse effects of restructuring activities, impact of changes to U.S. GAAP, labor matters, and disruptions relating to manmade and natural disasters. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2025. These forward-looking statements represent Vontier's beliefs and assumptions only as of the date of this release and Vontier does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
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Investor Relations:
Ryan Edelman
Vice President, Investor Relations
Vontier Corporation
ryan.edelman@vontier.com