logo
Share SHARE
FONT-SIZE Plus   Neg

Telenav To Sell Enterprise Business Unit To FleetCor Technologies - Quick Facts

Telenav, Inc. (TNAV) announced that it has entered into an agreement to sell the Telenav enterprise business unit to FleetCor Technologies Operating Company, LLC for about $10 million in cash, with an anticipated closing date in approximately 30 days.

Telenav said its enterprise business allows companies to better manage operations by using the Telenav location-based services or LBS platform to track status and the location of mobile workers, vehicles and assets deployed in the field.

Telenav will provide certain services after closing to facilitate the transition of the business.

Other terms of the agreement were not disclosed, however the company noted that as the deal will close near the end of the fiscal third quarter, the financial guidance provided for the quarter will be unchanged.

However, as to the full year revenue for fiscal 2013, the anticipated range for revenue will now be $190 to $194 million, reflecting the impact on revenue from this sale, Telenav said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Carnival said it has obtained U.S. approval to begin cruises to Cuba. The announcement by the cruise operator follows the recent restoration of diplomatic relations between the U.S. and Cuba. GoPro has just launched a facile camera, its smallest and lightest yet, as the action-camera sports maker seeks to further entice its adventure-seeking consumers. Oreo, the popular two chocolate wafers with a sweet crème filling in between has now got a new look. With about half the width of the regular Oreo, the new Oreo Thins will be thinner and slightly reduced in calorie. It will be available from July 13 with no change in its cookie taste and price tag.
comments powered by Disqus
Follow RTT