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March 3, 2015 9:20 AM, EST

Teletrac, Navman Wireless Merge

Teletrac Inc.

Teletrac Inc. and Navman Wireless, which make GPS-based asset-tracking telematics systems, have merged.

The combined company will operate under the Navman Wireless and Teletrac brands, it said in a March 3 statement.

Navman Wireless President T.J. Chung will lead the venture, which will be run by an executive management team from both companies.

“It became clear in our race to being the predominant global GPS fleet and asset tracking solution, that the leverage of combining Navman Wireless and Teletrac was in the clear best interest of both companies’ current and future customers,” Chung said.

The companies said their technology tracks more than 500,000 vehicles owned by over 40,000 organizations on five continents, making it one of the world’s largest fleet-management providers.

Headquartered in Glenview, Illinois, the combined company also has offices in Mexico, Europe, New Zealand and Australia.