Tuesday, October 4, 2016

Zonar Acquired By Continental

Seattle-based Zonar, which develops fleet management technology, has been acquired by German company Continental, Continental said on Tuesday. Financial terms of the majority investment were not announced. Continental said that prior owner Daimler Trucks North America LLC will continue to hold a minority stake in Zonar. Zonar has been looking for a buyer since at least June. Continental said the buy will help it expand its fleet management services business.