Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, February 18, 2022

Article Excerpt

VONTIER CORP., $24.48, symbol VNT on New York, is focused on transportation and mobility solutions. The company’s portfolio of brands includes mobility technologies, retail and commercial fuelling, fleet management, telematics (vehicle communication systems), and vehicle diagnostics and repair. Vontier reports that its products and services keep traffic flowing through more than 90,000 intersections, serve more than 260,000 customer fuelling sites, monitor more than 480,000 commercial vehicles, and equip over 600,000 auto technicians worldwide. In October 2020, Fortive (symbol FTV on New York) spun off Vontier. Fortive itself was spun off by its parent, Danaher (symbol DHR on New York), in 2016. On February 8, 2022, Vontier announced that it had acquired Israeli-based Driivz, an end-to-end electric vehicle charging and smart energy management software platform. The purchase price has not yet been disclosed. Driivz’s cloud-based platform spans EV charging operations, energy management, advanced billing capabilities, and driver self-service tools. Driivz operates in more than 20 countries. Its customers include Volvo Group, EVgo, Gilbarco Veeder-Root, Centrica, ElaadNL,…