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
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT