Omnitracs To Buy XRS Corp. - Quick Facts

(RTTNews) - Omnitracs, LLC, a provider of fleet management solutions to transportation and logistics companies, has agreed to acquire XRS Corp. (XRSC), a leader in mobile fleet optimization software. Omnitracs would pay $5.60 per share of XRS, which equates to $178 million in equity value.

XRS delivers software solutions that help trucking companies manage their fleets, comply with regulations, and reduce operating costs. It has led the trucking industry's migration to mobile devices for collecting and analyzing compliance and management data.

Both the companies have been pioneers in developing fleet management and compliance technology. The combined company would continue to provide products and services that help fleets stay safe and improve productivity.

In December 2013, Omnitracs acquired Roadnet Technologies, a provider of fleet management software solutions to private fleets. Other previous acquisitions include Sylectus and FleetRisk Advisors, which is now Omnitracs Analytics.