Continental has acquired a majority stake in Zonar, the fleet management technology provider.
The contract was signed on Sept. 23 and has obtained the required vote of the shareholders, but remains subject to final approval of the U.S. Federal Trade Commission and U.S. Department of Justice, according to Continental. Daimler Trucks North America is retaining its minority stake.
Zonar is a technology solution provider that offers a range of fleet management offerings to public and private commercial vehicle fleets in North America. With the investment in Zonar by Continental, the two enterprises will combine their complementary strengths and further expand both companies’ portfolios to offer additional smart fleet solutions to the market, according to Continental.
When the process is complete, Continental will further expand its existing product, solution, and service portfolio in the area of mobility services for fleet management of commercial vehicles and aftermarket.
Originally posted on Automotive Fleet