Navman Wireless tracking local growth

Navman Wireless tracking local growth

AUCKLAND 26 July, 2007 – The recent sale of the Navman Wireless unit to Chicago-based private investment firm Prairie Capital will see continued local growth, says Navman Wireless’ Auckland-based vice president of product delivery, Chris Bradley.

He says despite a protracted sale process, the New Zealand operation, largely responsible for the development of fleet-tracking Global Positioning Systems (GPS), has grown headcount by over 40 percent in the past year.

“We’ve kept our heads down during the sale process, but business has never been better, growing in all our markets, especially in New Zealand,” he says.

Bradley, who recently relocated to Auckland from Navman Wireless’ US operation, will head up New Zealand-based development, operations, product and project management teams he says are world-class.

“The investment by Prairie Capital is a resounding endorsement of our global position in the fleet management market and enables us to accelerate growth and invest in new solutions,” Bradley says. “Retaining the senior management team that successfully built the Navman Wireless business is key to meeting our global business objectives”.

With more than USD $500 million under management, Prairie Capital has completed more than 60 equity and mezzanine business investments since its launch in 1997.

Ian Daniel, vice president sales Asia Pacific and Latin America, says the company’s end-to-end approach to GPS solutions provision is the main success factor behind five years of incremental growth in both customers and connections of vehicles tracked in New Zealand. “Our attention to best of breed design and solutions delivery continues to drive market leadership here and in a number of international geographies.”

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