Fleet management solutions firm Omnitracs has purchased XRS Corp., which makes mobile fleet optimization software, for $178 million.
The XRS board unanimously approved the offer, and Omnitracs officials expect the deal to close during the fourth quarter.
Omnitracs Chief Executive Officer John Graham said the purchase will help the company continue its “renewed growth” and boost its market position. That growth has been coming recently by acquisition, as Omnitracs purchased Roadnet Technologies in December; the company has also completed acquisitions of FleetRisk Advisors and Sylectus.
"XRS has built a significant business focused on delivering transportation management solutions via mobile devices, and we believe this is a great addition to our suite of offerings,” he said in a statement. “Whether building on the strength of our core technology or expanding our portfolio, we continually seek opportunities to drive innovation and deliver long-term value to our current and future customers."