On Tuesday, Danaher (DHR 7.21%) announced that it has acquired on-demand "fleet and asset management" software company Navman Wireless for an undisclosed sum.
In a press release on the acquisition, Danaher noted that Navman has enjoyed "five successive years of revenue and installed base growth" in its Online AVL2 fleet and asset management platform. Navman's tech "currently monitors more than 175,000 vehicles and assets owned by over 14,000 organizations worldwide."
Danaher says it intends to operate Navman as a standalone subsidiary.
Danaher shares reacted positively to the news, rising 0.5% in early trading to $61.01.