Raleigh-headquartered Vontier Corp., an industrial technology company, has acquired Wilmington-based EKOS.
The acquisition of EKOS, a cloud-based fleet, fuel and electric vehicle (EV) management software firm, will expand Vontier's fleet connectivity, according to a news release.
“Today’s announcement marks a significant milestone in our relationship with EKOS, accelerating connectivity across our product portfolio and advancing our comprehensive vision for fleets,” said Mark Morelli, president and CEO of Vontier, in the release. “The acquisition enhances our ability to help fleet operators optimize performance, streamline operations and navigate an increasingly complex energy landscape. By strengthening our fleet technology ecosystem, we are creating greater value for customers today while positioning Vontier for long-term growth.”
Vontier, which provides technology solutions for convenience stores, fleet operators and auto repair shops, had previously used EKOS as its preferred fuel management software solution. It is also the parent company of Gilbarco Veeder-Root, a commercial and retail fueling tech firm.
According to the release, the acquisition will deepen the partnership between the two firms and establish a scalable operating layer "that seamlessly integrates hardware and software solutions for Vontier commercial fleet customers."
Founded in 2004, EKOS offers a centralized platform for fleet operators that includes fuel procurement, site monitoring, fleet asset management, fuel card controls and EV charging infrastructure. According to the release, the firm is deployed by thousands of businesses and supports over 1.2 million vehicles.
"We built the EKOSystem to solve a genuine problem: operators shouldn't need fragmented tools to manage their operations,” said Phil Dorroll, president of EKOS, in the release. “By joining Vontier, we now have unparalleled coverage across every layer, positioning EKOS as the leading fully integrated operating system in the market. Together, we'll deliver integrated solutions that set a new standard for fleet operations."
The financial terms of the transaction were not disclosed.
