Trimble Acquires Privately-held Veltec

(RTTNews) - Trimble (TRMB) said that it has acquired privately-held Veltec, a fleet management provider that delivers solutions to transportation companies to improve safety and reduce operational costs. Financial terms were not disclosed.

Veltec is headquartered in Londrina, Brazil. The acquisition of Veltec further expands Trimble's global footprint and extends Trimble's fleet safety and efficiency solutions to new markets.

Veltec's fleet mobility platform consists of a combination of in-vehicle devices and back office software to provide increased visibility into driver and fleet performance. Through Veltec's solutions, fleets gain access to actionable data that can help reduce accidents, improve individual driver and vehicle performance and increase fuel economy.

Veltec's business will be reported as part of Trimble's Transportation Segment.