Qualcomm Inks $800M Deal To Sell Fleet Tracking Biz

Law360, New York (August 23, 2013, 5:59 PM EDT) -- Software giant Qualcomm Inc. signed an agreement to sell its vehicle fleet tracking business Omnitracs to private equity firm Vista Equity Partners for $800 million in cash, Qualcomm said Friday.

The purchase covers all of Omnitracs' assets in the U.S., Canada and Latin America, including businesses it had acquired in 2011. According to Qualcomm, Omnitracs is in good health, with a loyal client base and growing demand, and it would work better independently.

Qualcomm, as a maker of smartphone chips, has been flush with money in...
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