Continental buys fleet management tech provider Zonar

Continental Holdings

04/10/2016 15:32

FRANKFURT, Oct 4 (Reuters) - German automotive group 
Continental  CONG.DE  has agreed to buy U.S. smart fleet 
management technology provider Zonar for an undisclosed price to 
expand its mobility services and strengthen its position in the 
United States, it said on Tuesday. 
    Continental said it would buy 81 percent of Seattle, 
Washington-based Zonar, a provider of telematics systems which 
enables customers like large truck fleet operators to roll out 
satellite-based connectivity services such as remote vehicle 
diagnostics. 
    German car and truck maker Daimler  DAIGn.DE  would keep its 
19 percent stake, Continental said. 
    Continental said it also bought Indiana-based Hoosier Racing 
Tire on Monday, declining to disclose a purchase price. 
 
 (Reporting by Georgina Prodhan; Editing by Edward Taylor) 
 ((georgina.prodhan@thomsonreuters.com; +49 69 7565 1279; 
Reuters Messaging: 
georgina.prodhan.thomsonreuters.com@reuters.net)) 
 
Keywords: CONTINENTAL ACQUISITIONS/