India, July 6 -- On Monday, Vontier Corp. (VNT), a critical technology provider, announced the completion of sale of a majority of Teletrac Navman, its global fleet management, telematics and asset management business.
The total transaction is valued at $220 million, including cash proceeds to Vontier of approximately $80 million. Vontier has already completed share buybacks of $130 million during the second quarter.
Financial results for the Teletrac business have been reported within the Mobility Technologies segment of Vontier and will now be excluded from continuing operations as of the completion date of June 30.
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In the pre-market activity on the N...