PeopleNet acquisition closed
MINNEAPOLIS — Norwest Equity Partners, a middle market investment firm, has announced that its portfolio company, PeopleNet has officially been sold to Trimble Navigation Limited.
The transaction closed on August 5, 2011.
PeopleNet is a major North American technology provider of Internet-based and integrated onboard computing and mobile communications to the transportation industry.
PeopleNet will operate within Trimble’s Mobile Solutions segment.
Ron Konezny, PeopleNet CEO, and his management team will continue to provide leadership for the PeopleNet business.
"Our partnership with NEP over the last several years has been an integral part of our success. The combination of investment capital, operating partner resources, industry knowledge, and strategic direction has helped PeopleNet to consistently achieve growth initiatives and provide unmatched technology solutions for our customers."
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