Press Release, 4 December’ 2024
Frankfurt am Main, Germany, December 3, 2024. 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.
The deal follows Continental’s Automotive group sector strategy, announced last year, centered around focusing on its core strengths and streamlining its business operations.
“The decision to sell Zonar is part of our broader automotive strategy to sharpen our focus and enhance our fundamental strengths,” said Philipp von Hirschheydt, Continental Executive Board Member and head of Automotive. “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.”
Zonar, founded in 2001, is headquartered in Seattle, Washington (USA) with more than 300 employees. It has pioneered smart mobility solutions throughout vocational, pupil, mass transit, and commercial trucking industries. The Zonar mission is to enhance the safety, performance, and success of its customers with actionable, innovative, and AI-enabled insights.
“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,” said Charles Kriete, CEO, GPS Trackit. “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.”
