ATLANTA and SAN FRANCISCO, Dec. 31, 2010 – Thoma Bravo LLC, a leading private equity investment firm, today completed its acquisition of UPS Logistics Technologies (UPS LT), a business unit of UPS (NYSE:UPS). The newly independent company has been renamed Roadnet Technologies Inc. (Roadnet Technologies). Financial details were not disclosed.
Roadnet Technologies’ principal transportation management applications are sold under the Roadnet brand, which is already familiar to customers, value-added resellers and vendors.
Len Kennedy, formally the UPS LT vice president and chief operating officer, has been named the chief executive officer of Roadnet Technologies.
“As an independent company, Roadnet Technologies can focus on its core product sets while exceeding our customer expectations with the best world-class transportation management applications,” said Kennedy. “Thoma Bravo’s stellar track record in software represents a tremendous asset for the company as we continue our worldwide expansion.”
“Roadnet Technologies is an exciting investment with high growth potential,” said Holden Spaht, a principal at Thoma Bravo. “The company’s outstanding leadership and employees combined with Thoma Bravo’s experience in helping companies grow will generate a winning combination for customers all over the world.”
“The transportation management solutions market provides an excellent opportunity to achieve growth through both organic and acquisition growth,” said Jeffrey Del Papa, a Thoma Bravo vice president.
Prior to its sale to Thoma Bravo, the company was founded in 1983 as Roadnet Systems Corporation and was acquired by UPS in May 1986. Roadnet headquarters will remain in Baltimore.
About Roadnet Technologies Inc.
With headquarters in Baltimore, Roadnet provides transportation management for 200,000 vehicles through 3,300 installations worldwide, representing a variety of industries. Specific transportation management applications provide street-level route plans, real-time wireless dispatch and GPS and strategic territory planning. Customers use the technology and tools for effective fuel management and driver productivity. For more information, visit http://www.roadnet.com/.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for 30 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo applies its investment strategy across multiple industries with a particular focus on the software and services sectors. In the software industry, Thoma Bravo has completed more than 50 acquisitions across 17 platform companies with total annual earnings in excess of $1 billion. For more information on Thoma Bravo, visit http://www.thomabravo.com/.
