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
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT