Continental has announced that it has acquired a majority stake in fleet management technology provider Zonar.
The contract has been signed but remains subject to final approval of the U.S. Federal Trade Commission and U.S. Department of Justice. Zonar, headquartered in Seattle, Wash., employs a staff of more than 300. With the investment in Zonar by Continental, the two enterprises have said that they will combine their complementary strengths to become a major supplier in the sector and further expand both companies’ portfolios to offer additional smart fleet solutions to the market.
“Through the integration of new smart technology solutions, we can enhance our existing fleet management services. In addition, with regard to remote diagnostics for commercial vehicles, we can broaden our existing Continental diagnostics capabilities through new backend services,” added Dr. Michael Ruf, head of the commercial vehicle & aftermarket business unit at Continental, where the acquisition will be integrated.
“It is exciting to move into a new chapter in Zonar history with the backing of a respected global brand that recognizes our need to serve our markets as a nimble, innovative, customer-focused company as we have for the past 15 years,” said Ian McKerlich, president of Zonar. “Customers will receive the same productive partnership and innovation they have come to expect with Zonar, as well as expanded technological resources and capabilities from Continental.”
Daimler Trucks North America, who purchased a minority stake in Zonar last year, has confirmed its continuous commitment to the company and is retaining its minority stake.
“Continental’s investment in Zonar presents a great opportunity to bring the best in both hardware and software solutions to the industry. Daimler Trucks North America will continue its partnership with Zonar building upon the success we have enjoyed over the last 5 years and Zonar will continue to be an integral part of our connectivity solutions,” said Martin Daum, president and chief executive officer of Daimler Trucks North America.
